Liquidation is the process of closing down, winding up or dissolving a company.
Statistics South Africa has published its latest report on liquidations and insolvencies, showing how South African businesses fared in 2021.
The data shows that from January to December 2021, there were a total of 1,932 reported liquidations in South Africa. This is largely in line with liquidation trends prior to the start of the Covid-19 pandemic in 2020.
The total number of liquidations decreased by 29.2% in the fourth quarter of 2021 compared with the fourth quarter of 2020. There was a year-on-year decrease of 20.3% in December 2021.
The below table highlights the business categories which reported the most liquidations in 2021.
Of all sectors, financing, insurance, real estate, business services (625 liquidations), trade, catering, and accommodation (414) and community services (157) were the hardest hit.
Below is the list of Liquidated Companies In South Africa
According to open corporates, the following companies are on provisional liquidations
2 ATHERSTONE GARDENS (South Africa, 18 Sep 1991- , GROUND FLOOR LYDPARK BUILDING ORPEN AVENUE 32 0184)
4 U HARDWARE RANDFONTEIN (South Africa, 27 Jul 2007- , 21 DOON DRIVE THREE RIVERS VEREENIGING 1929)
58 PEARSON STREET (South Africa, 15 Dec 1987- , 27 NEWTON STREET NEWTON PARK PORT ELIZABETH 6045)
A AND B SERVICE STATIONS (South Africa, 29 Sep 1964- , ATLANTIS HOUSE MOLTKE STREET WINDHOEK 2198)
A B SMIT INVESTMENTS (South Africa, 18 Mar 1991- , DARTFIELD ROAD JET PARK BOKSBURG 1459)
A BARAC (South Africa, 4 Oct 1988- , RIDGEVIEWWEG 489 WATERKLOOFRIF X2 PRETORIA 0005)
A C A ELECTRICIANS (South Africa, 11 Nov 1993- , 1ST FLOOR MORESON CENTRE 5 WOLFF STREET KEMPTON PARK 1619)
A C WHITE PRINTING AND PUBLISHING CO (South Africa, 28 Mar 1966- , VOORTREKKERSTRAAT 173 BLOEMFONTEIN 9301)
A D OLWYN INVESTMENTS (South Africa, 13 Jun 1950- )
A J PURCHASING (South Africa, 21 Oct 1987- , 18 ORPHAN STREET CAPE TOWN 8001)
A J TACHOGRAPH SERVICES (South Africa, 9 Jun 1988- , LIMPOPOLAAN 40 D PENIMA PARK 6270)
A M BRUCE CONSOLIDATED (South Africa, 2 Nov 1989- , 210 BOLAND BANK SENTRUM 5 ELIZABETHSTRAAT WELKOM 9459)
A P J ONDERNEMINGS (South Africa, 10 Jun 1971- , 18 KRIGE STREET STELLENBOSCH 6270)
A P SMUTS BRICKS (South Africa, 7 Sep 2006- , 95 DA GAMA ROAD JEFFREYS BAY 6330)
A S P SIGNS (South Africa, 12 Mar 1997- , 73 VICTORIA STREET SOMERSET WEST 7130)
A SAVOPOULOS AND BROTHERS (South Africa, 6 Jul 1978- , COSMYAGEBOU 2DE VLOER KERKSTRAAT POTCHEFSTROOM 2531)
A T HYDRAULICS (South Africa, 19 Dec 1986- , FARRELLSTRAAT 11 HAZELDENE GERMISTON 1401)
A V DE VILLIERS (South Africa, 10 Jul 1995- , 10 WAKINSHAW 366 LEYDS STREET SUNNYSIDE 0002)
A VAN NIEKERK CONSTRUCTION (South Africa, 28 Feb 2001- , 96 KANGELA STREET ESHOWE 3815)
AA DE GOUVEIA (South Africa, 8 Jul 1999- , 79 GRAAFF REINET ROAD UITENHAGE 6229)
ABRAHAMSE PROPERTY CONSULTANTS (South Africa, 17 Jul 2001- , 55A GLADSTONE STREET DUNDEE 3000)
ABRASCO (South Africa, 5 Aug 1985- , 3 BISHO BUSINESS VILLAGE BISHO 5608)
ACME T V AND APPLIANCES (South Africa, 1 Mar 1994- , UNITED BUILDING 5TH FLOOR OFFICE 504 COR CHAPEL ST/DU TOITSPAN RD RLEY)
ACNE MINING (South Africa, 6 May 1994- , 4 SECOND STREET VOORSPOED WELKOM 9459)
ACP MANUFACTURING (South Africa, 25 Feb 1987- , SUITE 9 3 WARWICK PLACE PINETOWN 3610)
ACROSS THE BORDER PUB AND RESTAURANT (South Africa, 25 Jul 1989- , 5 BURKE HOUSE 6 BURKE STREET RANDBURG 2032)
ACTIBES 1261 (South Africa, 28 Sep 2005- , 30 BIRD STREET CENTRAL PORT ELIZABETH 6001)
ACTIVETHREE COM (South Africa, 12 Jan 1999- , MARWICK HOUSE 30 OLD MAIN ROAD HILLCREST 3610)
ACUMEN MARKETING (South Africa, 25 Jan 1996- , LYTTELTONWEG 60 CLUBVIEW 0157)
AD KNITTERS (South Africa, 9 Jun 2000- , 5 PROVIDENT SOUTH STREET PAROW 7500)
Check out the full list of companies liquidated or undergoing liquidation in South Africa
What do liquidation companies do?
In the business world, liquidation is the process to close a business and use its assets to satisfy the firm’s debts. Often the failing company’s goods are sold to liquidation resell businesses. Buying this product at a discount, the liquidation company then sells it to the public for deeply discounted prices.
Can you buy a liquidated company?
You cannot buy a company that has been liquidated, as the company will no longer exist. However, you can buy the assets – be that stock, premises, the company name, client base, goodwill etc. Your first port of call will be to contact the Insolvency Practitioner dealing with the liquidation.
Is liquidation good or bad?
Liquidation is generally a cost-effective option that will prevent you from having to make further payments.
How long does liquidation process take?
There is no set time within which the liquidation needs to be completed and as such, it can range from 12-18 months (for an average sized company that is fairly uncomplicated) to longer (if, say, litigation is needed or other matters need to be resolved).
What is liquidation example?
The definition of liquidation is the act of turning assets into cash. When a business closes and sells all of its merchandise because it is bankrupt, this is an example of liquidation. When you sell your investment to free up the cash, this is an example of liquidation of the investment.