A total of 3,246 businesses have entered #BusinessRescue since the Companies Act provision in 2008. Since COVID, 442 businesses have entered rescue, often renegotiating rent as part of the rescue plan. Unlike business rescue where recovery is the objective, liquidation is the end of the road for a failed business. Sadly, given the lag of #liquidations after the Global Financial Crisis in 2008, we expect more failed businesses in the coming months and quarters. So far 2,275 businesses have been liquidated since the shock of the hard lockdown in April last year.