Number of insolvencies, up over 17 pct in first four months

The number of commercial companies and authorized individuals in insolvency increased by 17.38pct in the first four months of the year, compared to the same period of 2017, to 2,965, according to the data posted on the website of the National Office of Trade Registry (ONRC). 

Most of the companies and authorized individuals in insolvency are in Bucharest, 572 respectively (plus 12.82pct over the same period in 2017) and in the counties of Bihor - 192 (plus 18.52pct), Iasi - 187 (plus 21.43pct) and Timis - 151 (plus 32.46pct). In April alone as many as 660 companies and authorized individuals became insolvent. 

By field of activity, the largest number of insolvencies was registered in the wholesale and retail trade and in repair of motor vehicles and motorcycles - 904 (plus 20.37pct). 

Also, between January and April 2018, as many as 6,958 companies suspended their activity (up 35.58pct) and 12,653 were dissolved, by 62.51pct more. 

Romanian insolvencies remain at twice as high as the average in Central and Eastern Europe, according to the data presented in February by Coface officials.