Insolvencies, down by 21 pc at end-October

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6,747 companies became insolvent in the first ten months of this year, down by 21 percent, compared to the same period of 2015, the National Office of Trade Registry (ONRC) data show.

Bucharest has recorded the most of the insolvencies – 1,363 (-10.45 percent compared to January – October 2015), followed by Bihor County with 468 (+1.52 percent) and Iasi County with 409 (+15.21 percent).

Most insolvencies were in wholesale and retail trade, repair of motor vehicles and motorcycles, 2,077 respectively, down by 25.13 percent compared to the first ten months of last year.

Also, 13,645 firms have suspended their operations, their number being lower by 4.43 percent over the same period last year, Romania’s capital being leader in this area with 1,962 companies (+ 10.04 percent).

At the same time, the dissolutions increased by 17.83 percent at end-October – 25,588, Bucharest recording also most of these cases 5,586 (+ 32.68 percent).

Compared to Poland, Romania continues to have an incidence of insolvencies for 1,000 active companies of more than three times compared with the average recorded at regional level, with 23 insolvencies at 1,000 active companies, occupying the second position (following Serbia) from this point of view, a recent Coface Insolvency Report reads.

 

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