Number of insolvencies, up by half in Romania in January

The number of insolvencies went up by 47% in January 2018 versus the same month of 2017, as 753 companies asked for protection against their creditors. The highest number of insolvencies was recorded in Bucharest (164), Bihor county (68), and Timis county (43), according to data from the Trade Registry’s Office – ONRC. The highest dynamics were recorded in Vaslui and Giurgiu counties, where the number of insolvencies went up six-fold in January. Real estate transactions, financial intermediation services and IT&C were the most affected as the number of insolvencies in these sectors more than doubled. Over 9,100 companies in Romania went into insolvency last year, up by 8.7% compared to 2016. However, fewer big companies, with turnovers over EUR 1 million, went into insolvency last year. editor@romania-insider.com