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Almost 117,000 companies in Romania closed down or got into insolvency in the first 10 months of the year

Almost 117,000 companies in Romania closed down or were in difficulty in the first 10 months of the year up by over 5,600 against the same period of 2017, shows a specialty analysis published by the analysts in Sierra Quadrant.

Thus, out of the total of 116,952 companies in difficulty between January and October 2018 a number of 7,026 companies got into insolvency, 15,014 suspended their activity, 65,631 were written off and 29,278 were wound up,  shows the statistics of the Trade Register.

The number of wound up companies increased by 20.7% while the activity suspension increased by 13.3%.On the other hand,  the number of companies in insolvency reduced with 4.33% and that of the written-off companies with 1.26%.

‘Almost 30,000 companies were wound up during this interval, in a significant increase against 2017, signal of the decrease of the appetite for investments, as a result of the worsening of the condtions in real economy, strongly affected by the financial blockage and the lack of financing’ the analysts of Sierra Quadrant say.

At general level, in Romania, there operate at present 914,415 companies, and 394,790 authorised natural persons.

The experts consider that, among the reasons for which most companies fail, is insufficient capitalization, difficult access to banking financing and weak economic training of the investors.

According the quoted source, the most risky business environment, by judging after the number of companies in difficulty, is Bucharest with 1,372 insolvencies, 1,646 suspended companies, 10,446 written off companies, 5,779 wound up companies in the first 10 months in 2018. In the capital city there are most companies in Romania, 238,523 companies and PFAs respectively.
In the top of the companies in insolvency this year the capital city is followed by Bihor(487), Timi? (374), Constan?a (362), Ia?i (337), Cluj (257) and  Bra?ov (232). At the other end is Covasna (42), S?laj (46), Boto?ani and C?l?ra?i (câte 49), Mehedin?i (53), Gorj (54), Teleorman (56), Ialomi?a (57) and  Dâmbovi?a (59). At the same time, in Satu Mare there was the highest growth of the number of companies in insolvency of 69.4%.

As regards the situation of the suspended companies this year, the specialty analysis shows that Bucharest is followed by Bihor (818), Cluj (677), Constan?a (600), Prahova (558) and  Neam? (549), while the counties with the least number of companies which are suspended are Ialomi?a (75), Covasna (127), Br?ila (142), Gorj (149), Cara?-Severin (156), Tulcea (155), Giurgiu (160), Teleorman (167), Boto?ani (192).

For written off companies in 2018 the capital city is followed by Cluj (2.812), Timi? (2.643), Ia?i (2.614), Constan?a (2.433), Bihor (2.371), Prahova (2.206) and Dolj (2.100), and at the top of the wound up companies isTimi? (1.561), Cluj (1.352) and Constan?a (1.316).

Similarly, the highest increase of the number of written off companies was in Dambovita of 34.5% and as regards the wound up companies the highest increase was in Botosani with 87.3%.