4 C
Bucharest
December 4, 2020
BUSINESS

Fewer insolvencies and business closures

A number of 7,912 companies entered insolvency during Jan-April of this year, down 8 per cent from year on year. Over the same interval, 8,627 companies closed down shop, down 68 per cent from the year-earlier period, according to a National Trade Register Office (ONRC) release yesterday. The number of company insolvencies during Jan-April was upwards of 7,280, and 26, 843 closed operations. April saw 2,110 insolvencies, slightly down from the March high of 2198, against 1,243 and 1,650 in January and February respectively.

ONRC data also show that the bulk of companies that filed for insolvency operated in the trade sector, followed by those in the manufacturing and construction sectors. County wise, at 691, Bucharest ranks tops with respect to the number of companies unable to pay their debts, followed by Dolj – 573 and Constanta – 489. During the interval examined, 42,431 companies registered with the ONRC, from 37,947 year on year.

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