The start of 2024 has shown an increase in liquidations – with political and economic risks potentially seeing more businesses shut their doors.
More businesses closed their doors at the start of 2024 than last year, and there are warning signs that more could follow suit this year.
Of the 138 businesses that closed their doors in February, 124 did so voluntarily, while the other 14 did so on a compulsory basis. On an industry level, unclassified saw the most liquidations, followed by financing, insurance, real estate, and business services and trade, catering, and accommodation ., Deloitte’s Jo Mitchel-Marias warned that many businesses are in a “zombie zone,” where they can only pay operating expenses and service their debt.
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