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Company insolvency, closures grow sharply in Romania

Staff Writer | May 30, 2018
Romania saw a sharp increase in commercial insolvency in the first four months of this year, the latest data published on the website of the National Office of Trade Registry (ONRC) showed.
Romania factory
Europe   Insolvencies in Romania remain high
According to the statistics, the number of commercial companies and authorized natural persons (ANP) in insolvency or suspension increased year-over-year by 17.38 and 35.58 percent, respectively, in January-April, 2018.

According to the ONRC data, 2,965 companies and ANP declared insolvency in the first four months of 2018, while 6,958 others suspended their activity.

The capital Bucharest recorded the most, with companies and ANP accounting for nearly 20 percent and 13 percent of the country's total.

The sectors that are most affected by the insolvency phenomenon are wholesale and retail trade, as well as car repair workshops.

Last year, 9,102 companies and ANP announced insolvency, up 8.73 percent from 2016, while other 16,380 suspended their activity, a year-over-year increase of 2.9 percent.

Insolvencies in Romania remain at twice the average in the Central and Eastern Europe (CEE), according to the data presented in February by Coface officials, quoted by official Agerpres news agency.