Wind Up Wind Down

Liquidation is often a difficult decision for a company and its employees. During liquidation, employees may face immediate concerns, including temporary suspensions, potential terminations, and claims for unpaid wages. In this article, we explore the effects of a company's liquidation on its employees in South Africa.

Winding up a business in South Africa, whether solvent or insolvent, is possible through Liquidation. The Liquidation strategy provides an opportunity to cease your business operations and to sell your business assets to settle the debts. You can also Liquidate if you do not have assets in your business. In this article, we have formulated a step-by-step guide to the Liquidation process in South Africa. Let’s dive in!