Company Insolvency, Closures Grow Sharply in Romania

Romania saw a sharp increase in commercial insolvency in the first four months of this year, the latest data published on the website of the National Office of Trade Registry (ONRC) showed. According to the statistics, the number of commercial companies and authorized natural persons (ANP) in insolvency or suspension increased year-over-year by 17.38 and 35.58 percent, respectively, in January-April, 2018, the Xinhua News Agency reported. According to the ONRC data, 2,965 companies and ANP declared insolvency in the first four months of 2018, while 6,958 others suspended their activity. The capital Bucharest recorded the most, with companies and ANP accounting for nearly 20 percent and 13 percent of the country's total. The sectors that are most affected by the insolvency phenomenon are wholesale and retail trade, as well as car repair workshops. Read more.