Insolvencies down 4.33pct, Jan.-Oct. 2018; suspensions, dissolutions up 13.32pct, 20.71pct

The number of companies and individuals facing insolvency fell by 4.33pct in the first ten months of this year compared with the similar period of 2017, to 7,026, according to data posted on the website of the National Companies Register Office (ONRC).

Most of them are in Bucharest - 1,372, down 14.3 percent over the same period of 2017. The next largest such insolvencies were reported for the counties of Bihor - 487 insolvencies (+ 21.14 percent), Timis - 374 (+ 23.03 percent), Constanta - 362 (+ 16.40 percent) and Iasi - 337 (-22.17 percent).

In October, 943 companies and individuals faced insolvency.

The largest number of insolvencies by business field was recorded, in the first ten months, in the wholesale and retail trade, repair of motor vehicles and motorcycles, 2,210 (- 1.25 percent), respectively. As many as 297 insolvencies were reported in October alone in this field. In construction area a number of 1,070 insolvencies were reported (minus 3.78 percent) in the first ten months and 131 insolvencies in October.

At the same time, between January and October 2018, a number of 15,014 companies suspended their activity, up 13.32 percent against the same period of 2017, of which 1,691 in October, while 29,278 companies were dissolved, by 20.71 percent more than in the first ten months of 2017. In October, 3,104 companies were dissolved, according to the ONRC.