Insolvencies down 6.5pct, Jan.-Nov. 2018

Insolvencies of trading companies and self-employed persons declined by 6.54 percent between 1 January and 30 November 2018 to 7,716, compared to the similar period of 2017, shows data published on the website of the National Trade Register Office (ONRC). 

Bucharest tops the list with most insolvencies - 1,514, down 16.68 percent compared to the same period of 2017, followed by Bihor County with 521 (+ 11.90 percent), Timis County with 412 (+16.38 percent), Iasi County with 399 (- 20.04 percent) and Constanta County with 380 (+10.14 percent). 

In November, 690 insolvencies of companies and self-employed persons were recorded. 

The largest number of insolvencies by business areas was recorded, in the first 11 months, in the wholesale and retail trade, repair of motor vehicles and motorcycles, 2,428 (minus 4.3 percent), respectively. As many as 218 insolvencies were reported in November alone in this area. In construction area a number of 1,184 insolvencies were reported (minus 5.2 percent) in the first 11 months and 114 insolvencies in November. 

At the same time, between January and November, a number of 16,663 companies suspended their activity, up 14.21 percent against the same period of 2017, of which 1,649 in November, while 32,115 companies were dissolved, by 13.94 percent more than in the first 11 months of 2017. In November, 2,837 companies were dissolved, according to the ONRC.