DESPITE the strong economy company failures increased by more than 6 per cent, from 760 in 1995 to 810 in 1996, according to Interface Business Information. All categories, except where the courts were involved, increased.
The number of examinerships doubled from three to six. The number of receiverships went from 26 to 31, while companies voluntarily wound up grew from 595 to 622.
The majority of the closures were small companies, the survey noted. Interface Business Information found that several companies in the fashion and clothing business ceased to trade. And while the computer/electronics industry led the way in employment growth, it was not without its casualties.
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