ECONOMY

Number of insolvencies drop by less than a quarter in January – July 2016

Some 5,058 companies have become insolvent in the first seven months of 2016, dropping by 22.54pct against the same period of 2015, a release by the National Trade Register Office (ONRC) informs.

Most of the cases were recorded in Bucharest, namely 1,063 (-12.51pct against January-July 2015), followed by the Bihor County, with 326 (-1.51pct) and the Iasi County, with 307 (+13.28pct). Depending on their activity, most of the insolvencies were recorded in the wholesale and retail trade, repair of motor vehicles and motorcycles, namely 1,582, down by 26.01pct against the first seven months of 2015.

Likewise, 10,515 companies have suspended activity, their number being smaller by 0.05pct against the same period of 2015, the Capital topping the chapter by 1,610 companies (+19.70pct).

As for the businesses’ closings, they have increased by 34.52pct in the first seven months of 2016, with 19,690 such cases, and Bucharest on the top with 4,274 (+52.92pct).

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