Over 4,440 companies in Romania became insolvent in the first six months of this year, according to Coface.

The number of companies with a turnover of more than EUR 1 million that went into insolvency during this period increased by almost 20%, to 180.

Although the number of insolvencies in the first half of 2017 is at the lowest level in the past 10 years, the creditors’ losses have reached the highest level, according to Coface Romania. The number of companies using data and information to minimize the risk of default is still low.

The main players in the business information market, Coface Romania, Creditinfo Business Information, Creditreform Romania, DC Invest Information and Keysfin, have set up the Association of Business Information Companies (ACIA) to promote business information through credit reports. ACIA aims to supply companies access to data from public sources to mitigate commercial risk. It will also represent the interests of its members in relation to local and European authorities.

editor@romania-insider.com