More than 20,000 firms in Romania entered insolvency in first nine months of 2013, data shows

A total of 20,220 firms entered insolvency in Romania between January-September 2013, up some 6 percent from 19,118 in the same period of 2012, according to National Trade Registry (ONRC) data. Romania’s capital Bucharest recorded the highest number of insolvencies in the first nine months of the year, namely 2,593 - up some 15 percent against the same period in 2012. Bucharest was followed by Bihor county, where a total of 1,206 companies went insolvent between January-September, a year-on-year increase of around 20 percent. Next, following closely, was Galati county with 1,186 insolvent companies - up 60 percent compared to the same period the previous year, shows the data from ONRC. The lowest number of insolvency cases were recorded in Calarasi, Tulcea and Harghita counties. Around one million companies were active in Romania in late September 2013. Irina Popescu, irina.popescu@romania-insider.com (photo source: Sxc.hu)