July sees higher business failures, driven by close corporations [SOUND]

# Statistics South Africa reports a sharp rise in business liquidations, with July seeing a 16.5-percent increase compared to the same month last year. Of the 155 liquidations recorded, 72 were companies and 83 were close corporations, including 14 compulsory and 141 voluntary closures. Stats SA’s Onica Mushwana says over the first seven months of this year, liquidations rose by 1.8-percent compared to the same period last year: