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Bucharest
March 2, 2021
ECONOMY FINANCE&BANKING

Number of companies filing for insolvency in H1, down 25pct YoY

The number of companies that filed for insolvency in H1 of this year is lower by 25pct compared to the similar period of last year, namely 4,291, and for the full year it is estimated at 7,800 companies, the lowest in the past 10 years, said on Wednesday Iancu Guda, services manager and chief economist and with Coface Romania.

Regionally, in Central and Eastern Europe (CEE) respectively, the number of insolvencies decreased in 2015 by 27pct, to 46,602 companies.

“Romania recorded the biggest drop in insolvencies in CEE in 2015, 50pct respectively, and the contraction estimated for the entire year 2016 is 23pct. Despite this, Romania will remain in 2016 the 3rd country in terms of insolvency incidence in 1,000 active companies (18), almost 2.5 times higher than the average level in CEE,” said the representative of Coface.

On the other hand, the systemic risk generated by insolvencies is declining, given that the number of insolvencies among the companies with a turnover higher than one million euros is decreasing from 309 in H1 2015 to 229 in H1 2016.

By business fields, most companies that filed for insolvency in H1 operate in wholesale trade and distribution (740), followed by those in retail trade (713), construction (671), activities and services for enterprises (318), hotels and restaurants (291) and transport (267).

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