South Africa: close corporation liquidations 2020-2023

As of August 2023, the number of monthly close corporation liquidations was 76 which was an increase from August 2022. The total number of monthly liquidations amounted to 816 in 2022, which was a decrease compared to 2021 when 875 liquidations were registered. When compared to the total number of monthly company liquidations, the overall monthly close corporation liquidations was lower.

Total number of monthly close corporation liquidations in South Africa from 2020-2023

Characteristic	2020	2021	2022	2023
December	56	47	58	-
November	122	55	61	-
October	96	74	74	-
September	93	69	67	-
August	93	81	61	76
July	78	71	70	62
June	54	64	66	58
May	85	88	113	60
April	0	77	77	49
March	60	105	70	89
February	81	85	64	71
January	53	59	35	38

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Release date

September 2023

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Region

South Africa

Survey time period

January 2020 to August 2023

Supplementary notes

Total number includes compulsory and voluntary liquidations.

Compulsory liquidation is a procedure where the assets of a company/close corporation are sold to pay off creditors. The residual assets will then be distributed between the shareholders and finally, the company will be closed.

Voluntary liquidation occurs when the shareholders of a company/close corporation decide to close the company on their own terms after passing a special resolution undertaking that the company/close corporation is to be liquidated.

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