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Byline: Mariam Isa
Company failures and bankruptcies on the increase COMPANY failures rose by 23,7% last month versus the same month last year, while personal bankruptcies surged 20% during October, official data showed yesterday.
This heightens concerns that bad debts will continue to rise.
The company failure data is somewhat erratic but the trend in bankruptcies is clear during the first 10 months of this year, they rose 58,6% compared with the same period last year, according to Statistics SA data.
These figures show the huge pressure which is being felt by individuals at the moment, and ultimately that will feed into the corporate …