Insolvencies in the first 10 months of 2016 , 21 percent down from the similar period of 2015

The number of companies undergoing insolvency procedures in Romania in the first 10 months of 2016 was 21 percent down from the similar period of the year before, according to official data with the National Trade Register Office (ONRC).

Most of the insolvencies were registered in Bucharest, specifically 1,363 (down 10.45 pct from Jan - Oct. 2015), followed by Bihor County with 468 insolvency instances (1.52 percent) and Iasi County, with 409 instances (15.21 percent).

Most of the insolvencies were reported in retail trade, motor vehicle and motorcycle repairing, specifically 2,077, down 25.13 percent from the similar period of 2015.

A number of 13,645 companies suspended business in the first 10 months of 2016, down 4.43 pct YoY. Bucharest again tops this ranking with 1,961 suspended businesses (+10.04 pct).

As far as business dissolutions are concerned, their number was 25,588 over Jan - Oct 2016, by 17.83 percent higher from the similar period of the year before. Bucharest leads the ranking, with 5,586 dissolutions (+32.68 percent).  

Developed by Codecraftsman