Navigating Penguin 2.0: Ditch the Spammy Links
Recent liquidation statistics (as at December 2011), indicate Water Freedom System Review that the number of liquidations for 2011, fell by 10.8% year on year and when compared to the same period in 2010.According to the CIPC, the sectors which have filed for rescue are mining, property and real estate, quarrying, electricity, gas and water, transport, storage and communication.
From an analysis of the above, it is clear that the property and real estate industry have been at the forefront in respect of rescue filings. This is as a direct result of a decrease in property prices and general depression in the real estate market. Many of the companies that have opted for business rescue in the real estate industry have been limited to groups of investment schemes that were administered as property syndications which ultimately ended up in a financially distressed situation.
There have also been rescue filings in the services sector which includes transport and logistics, tourism, hotel services and general services.In the manufacturing industry various companies and close corporations have also filed for rescue and which are evenly spread out amongst the various sectors.
