Source: MPO e-newsletter, 14 May 2021, photo credit: The Gazette
The Statistics of Liquidations and Insolvencies report shows 216 companies liquidated in March this year, compared to 178 the month before – a 21% jump, almost 50% higher than in March 2020. Business consultants are concerned about smaller businesses, which bear the brunt of the hardship. The number of liquidations between March 2020 and the same month this year jumped by 49%. Compared to the second month of this year, this figure is 21% higher.
The total number of liquidations increased by 18,9% in the first quarter of 2021 compared to the first quarter of 2020, according to Stats SA. Of all sectors, financing, insurance, real estate, business services (77 liquidations), trade, catering, and accommodation (47), and manufacturing (10) are the hardest hit.
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The South African Pork Producers’ Organisation (SAPPO) coordinates industry interventions and collaboratively manages risks in the value chain to enable the sustainability and profitability of pork producers in South Africa.
