The number of companies that entered insolvency in the first seven months of 2014 dropped by 13.37% year-on-year, to 15,124, according to data from National Trade Registry (ONRC).

The largest decreases in the number of insolvencies were recorded in Giurgiu – down 69.49%, Mehedinti – down 67.25% and Vaslui – down 66.77%. In the same period, Alba, Caras-Severin and Prahova registered the largest increases. At a national level, 15 counties registered increases in the number of insolvencies, with rates between 1.71% and 75.82%, while the rest recorded decreases between 6.28% and 69.49%.

Bucharest recorded the highest number of insolvencies in the first seven months of this year – 2,421, followed by Bihor – 1,029 and Prahova – 603. The lowest number of insolvency cases were recorded in Calarasi, Neamt and Giurgiu.

A total of 1.1 million companies were active in Romania at the end of July this year.

Irina Popescu, irina.popescu@romania-insider.com