Insolvencies drop over 26pct in first ten months of 2019

The number of companies and self-employed persons facing insolvency fell by 26.42 percent in the first ten months of 2019 compared with the similar period of 2018, to 5,170, according to data posted on the website of the National Companies Register Office (ONRC). 

Most of them were in Bucharest, namely 915, down 33.31 percent from the same period of 2018. The ranking continues with the counties of Bihor, 432 insolvencies (-11.29 percent), Timis, 277 (-25.94 percent) and Constanta, 256 (-29.28 percent). 

On the other hand the counties with the fewest insolvencies between 1 January and 31 October 2019 were Salaj, only 16, decreasing by 65.22 percent against the similar period of last year, and the counties of Vaslui - 23 (62.3 percent) and Botosani - 26 (46.94 percent). 

In August, 736 insolvencies were recorded at national level, most of them in Bucharest (149). 

By business field, the largest number of insolvencies January-October was recorded in wholesale and retail trade; repair of motor vehicles and motorcycles, 1,594 (-27.87 percent), constructions - 777 (-27.38 percent), manufacturing industry - 623 (-26.01 percent) and hotels&restaurants - 395 (-24.9 percent).