Insolvencies in Romania Reach 10-Year Low, But Losses to Creditors Close to New High

The number of insolvencies in the first semester of this year got to the lowest level of the last ten years, but the amount of losses generated to creditors edges close to a 10-year record, Business Review reported. The number of large companies with a turnover over EUR 1 million becoming insolvent registered a growth of almost 5 percent, reaching 189 insolvent companies in the first semester of the current year. Increasing insolvency among large companies is a systemic problem as they spread greater financial and social shock in the already highly polarized business environment. Although the number of insolvencies registered in the first semester of the current year is at the lower level of the last ten years, the losses generated to creditors is very high, close to the highest level in the last decade. Coface Romania has conducted a new study on the evolution of insolvent companies in Romania, this time by considering the newly registered cases from the Insolvency Procedure Bulletin (IPB) during the first semester of the current year. Read more.
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