Number of insolvencies to drop this year


Coface estimates that a total of 23,000 insolvency proceedings will be opened in 2014, down 15 percent compared to the previous year, according to Iancu Guda, Coface macroeconomic analyst, cited by capital.ro. He added that over 12,400 insolvencies were opened in the first half of this year, a 10 percent decrease year-on-year. A total of 13,855 new insolvency proceedings were opened in the same period of 2013.
According to National Trade Registry (ONRC) data, the largest decreases in the number of insolvencies were recorded in Giurgiu – down 69.49 percent, Mehedinti – down 67.25 percent and Vaslui – down 66.77 percent. In the same period, Alba, Caras-Severin and Prahova registered the largest increases. At a national level, 15 counties registered increases in the number of insolvencies, with rates between 1.71 percent and 75.82 percent, while the rest recorded decreases between 6.28 percent and 69.49 percent. Bucharest recorded the highest number of insolvencies in the first seven months of this year – 2,421, followed by Bihor – 1,029 and Prahova – 603. The lowest number of insolvency cases were recorded in Calarasi, Neamt and Giurgiu. A total of 1.1 million companies were active in Romania at the end of July this year.

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