Insolvencies down 20% in Romania five months into 2012

In the first five months of this year, a total of 7,427 companies entered insolvency, down 20 percent from January to May 2011. During the same period, 10,596 companies in Romania suspended their activity, over 4 percent more than during the same period of 2011, according to National Trade Register Office (ONRC).

In January-May 2011, 9,177 companies entered insolvency and 10,182 suspended their activity. However, the insolvency pace increased in May 2012, when 1,802 companies went insolvent, compared to 1,211 companies in April. Most of the companies that opted for insolvency were active in retail, followed by those from industry and construction. During the first five months of the year, almost 63,000 new companies registered in Romania, up from the same period in 2011, when almost 56,000 new companies registered. Ioana Toader, ioana.toader@romania-insider.com