The number of companies that went into insolvency in January dropped by 14.5 per cent, down to 2,054, from 2,403 in the same period of last year, according to the National Trade Register Office (ONRC). Most companies declared insolvent in the first month of 2014 were registered in Bucharest, Bihor and Mures, namely 360 (up 52.5 per cent compared to 2013), 195 (up 58.5 per cent compared to the similar period of 2013), and 150 respectively (+206 per cent). Nationwide, declines ranging between 6 and 87 per cent were recorded in the number of insolvencies in 29 counties. The lowest number of companies declared insolvent in January were in Calarasi (8 cases) and Suceava (11 firms). Most companies dealing with financial woes are operating in the sector of commerce, with 849 being declared insolvent compared to 798 in 2013, as well as in constructions – 279, against 349 in Jan. 2013 and in the processing industry 0 253, down from 279. Over 29,500 companies were declared insolvent in 2013, with nearly 130,000 firms having entered payment default since the onset of the economic crisis. Moreover, the activity of about 2,100 companies was suspended in January, down 23 per cent than in Jan. 2013. On the other hand, the number of newly established companies went down 4.5 per cent to 8,515.