Growing wave of businesses going belly up in Singapore
More businesses are going belly up in Singapore, with more being forced by the courts to shut. So far this year, 187 companies have been liquidated, a jump from 146 in the same period last year and just 95 the year before. This has been keeping debt collectors busier than ever; they say that about 30 per cent more companies are having trouble paying debts. Our reporter Sherlyn Seah joins us in the studio to discuss this issue. She talks about the situation and what the numbers reflect about the economy. She also explains why debt collectors may be involved and tells us more about the outlook for businesses from here.Â
More businesses are going belly up in Singapore, with more being forced by the courts to shut. So far this year, 187 companies have been liquidated, a jump from 146 in the same period last year and just 95 the year before. This has been keeping debt collectors busier than ever; they say that about 30 per cent more companies are having trouble paying debts. Our reporter Sherlyn Seah joins us in the studio to discuss this issue. She talks about the situation and what the numbers reflect about the economy. She also explains why debt collectors may be involved and tells us more about the outlook for businesses from here.Â
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