ONRC: Insolvencies drop by 10 pct in first eight months

The number of companies and authorized tradesmen (PFA) that entered insolvency has dropped by 10.11 pct in the first eight months of 2020, compared to the similar period of last year, to 3,576 insolvencies, shows the data published by the National Office of the Trade Register (ONRC).

Most companies and PFAs entering insolvency were recorded in Bucharest, 765, an increase of 14.35 pct over the period of January-August 2019. In the following places in the hierarchy of insolvencies are the counties of Bihor - 256 cases (minus 21.95 pct), Cluj - 206 (minus 33.77 pct) and Constanta - 212 (plus 7.07 pct).

In regards to the domains of activity, in the first eight months, the highest number of insolvencies was registered in retail and wholesale; the reparation of vehicles and motorcycles, specifically 1,047 (minus 15.84 pct), in construction - 570 (minus 3.23 pct), the manufacturing industry - 430 (minus 8.32 pct) and hotels and restaurants - 290 (minus 6.45 pct).

In August 397 insolvencies were recorded, most in Bucharest - 102, and in the counties of Constanta - 32, Timis - 26, Ilfov - 20 and Cluj - 17.