Insolvencies Up By Nearly 12 Percent In The First 5 Months

The number of companies and insolvency-licensed individuals increased by 11.97 percent in the first five months of this year, compared with the same period in 2017, to 3.686, according to data published on the National Trade Register Office (ONRC), Business Review reported. Most companies and sole traders in insolvency are in Bucharest, respectively 737 (plus 2,50 percent year-on-year) and in Bihor counties – 237 ( up by 22,16 percent year-on-year), Iasi – 213 (up by 4, 41 percent) and Timis – 181 (up by 27,46 percent). In May alone, 721 firms and PFAs went into insolvency. By field of activity, the largest number of insolvencies was recorded in wholesale and retail trade, repair of motor vehicles and motorcycles – 1.130 (plus 13.68 percent). A number of 226 insolvencies were reported in May only. Read more.