The number of local companies that entered insolvency dropped by 52% in the first eleven months of 2015 compared to the same period of 2014, from over 19,000 to about 9,500.

At the same time, the number of newly registered companies rose by 11.4% in the first eleven months of 2015, compared to the same period in 2014, reaching 106,500.

The highest number of insolvencies was recorded among retail and wholesale companies, reaching almost 3,500. Their number, however, dropped by 47% compared to the first eleven months of 2014. The construction sector ranks second for the number of insolvencies, with over 1,400 firms going insolvent in the first eleven months of 2015.

Bucharest was the area with most insolvencies during this period (1,666), followed by the Bihor county (518) and the Timis county (466).

At end-November 2015, there were 1.1 million firms and individuals registered for business in Romania, according to data from the National Trade Registry’s Office - ONRC.

editor@romania-insider.com