The number of insolvent firms and authorized individuals (PFAs) grew by 47.07 percent in January year-on-year to 753 according to National Trade Register Office (ONRC) data.
Most of the companies and PFAs in insolvency are from Bucharest – 163, up 60.07 percent compared to January 2017, followed by Bihor with 68 (+100 percent) and Timis – 43 (86.96 percent).
Most insolvencies were in the wholesale and retail trade, repair of motor vehicles and motorcycles – 216, up 50 percent.
Also 2,472 companies suspended their activity (+132.99 percent), while 3,089 were dissolved, increasing by 142.08 percent.
Insolvencies in Romania are twice as high as the Central and Eastern European (CEE) average, according to data recently presented by Coface.
”2017 brought 8,256 new insolvency procedures, up 3 percent year-on-year, when 8,053 new procedures were registered. Despite the minimum from the last 15 years, Romania reports an average level of insolvent companies compared to 1,000 active companies of 2.4 percent,” Coface report shows.