BUSINESS

34,000 companies undergoing insolvency

The insolvency market in Romania comes to nearly EUR 25 M and includes 34,000 enterprises, according the Transilvania Insolvency House, which holds that low funds allocated to creditors and debtor reluctance to apply to take out finance leads most of those companies into bankruptcy, Mediafax reports. Transilvania Insolvency House shows that the Creditors’ Association allocates an average of close to EUR 60 monthly to a company under insolvency, an amount that does not include conservation costs of debtor assets.

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