Wind Up Wind Down

When a company or a close corporation in South Africa undergoes liquidation, the South African Revenue Service must be involved for tax purposes. In this scenario, the liquidator also acts as the representative taxpayer on behalf of the company. In this article, we understand the major role SARS plays in the company or CC liquidation process in South Africa.

In South Africa's challenging business environment, many entrepreneurs face financial pressures that can push their companies towards liquidation. When that happens, a common question arises: Can a company liquidate and then start again in South Africa? The short answer is yes, but it comes with important legal and ethical considerations. Understanding what is allowed and what could get you into trouble is key.

Insolvency law is undergoing a transformation that is set to change the way businesses recover from financial distress.

Embracing resilience in the face of liquidation involves staying adaptable, maintaining a positive outlook and leveraging lessons learned.

Another company in South Africa goes into Liquidation. Retailer Drip Footwear has entered liquidation, with employees laid off this week.

Sapo’s business rescue practitioners, the entity risks running out of funds in October 2024 unless it receives a government injection.

One indispensable tool that savvy business owners have at their disposal is Business Interruption Cover - a financial safety net.

When faced with tough times, it's crucial for business owners to steer their business back on course to revive their struggling venture.

Business Liquidation as an Exit Strategy - What You Need to Know

What are the implications of signing personal surety for business debt? Read our article to find out more.

In the unpredictable landscape of business, facing liquidation can be a significant setback, but it doesn't have to be the end of the road. Many successful entrepreneurs and companies have faced this daunting challenge and managed to rise from the ashes, stronger and more resilient than before. So, how can you recover from liquidation and restart your business?

Automotive parts retailer and wholesaler AutoZone has voluntarily entered business rescue as it is in financial distress. The decision followed a resolution taken by the AutoZone Holdings board of directors on 1 July 2024.