The number of companies that entered insolvency reached 6,441 in the first nine months of this year, up 7.5% year-on-year, according to the Trade Registry’s Office (ONRC). In September, 683 local firms became insolvent.

Bucharest, for example, recorded 1,393 insolvencies between January and September, up 15% year-on-year. It was the highest number of insolvencies in Romania during this period. It was followed by Iasi, with 385 insolvent companies in the first nine months of this year, up 8.7% year-on-year. Bihor recorded 351 insolvent firms, down 16% year-on-year.

The public administration and defense sector saw no insolvencies between January and September. In the healthcare and social assistance sector, the number of insolvencies grew by 21% to 23 firms. In the energy production sector, the number of insolvent firms rose by 36% to 41 companies.

Most insolvencies were recorded in trade, with 1,933 firms, between January and September.

editor@romania-insider.com