Over 9,600 Romanian companies go insolvent in first seven months of 2013

A total of 9,655 companies in Romania went insolvent in the first seven months of this year, a year-on-year decrease of 5.4 percent, according to recent data from the National Trade Registry (ONRC). The number is at least 500 less than the same period last year when more than 10,200 companies went bankrupt between January and July. Romania’s Dolj county recorded the highest number of insolvencies in the first seven months of this year - 934, a year-on-year increase of 27.4 percent. Next, following closely, was Brasov county with 933 insolvent companies - up 48 percent compared to the same period last year and Bucharest with 712 insolvency cases, down 6.9 percent compared to January-July 2012. Calarasi county recorded the lowest number of insolvency cases in the first seven months, namely 23, followed by Harghita county, which had 33, and Tulcea county with 43 insolvent companies. Most of the companies facing financial problems were those in the trade sector, followed by companies in manufacturing and construction. More than one million companies were active in Romania in late July 2013, a year-on-year increase of 7.3 percent, while more than 83,600 companies were registered this year. Most of the companies registered in the first five months of 2013 have been in the trade sector - more than 22,700, followed by the companies operating in agriculture, with some 19,300 registrations. Irina Popescu, irina.popescu@romania-insider.com (photo source: Sxc.hu)