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Insolvency in Q1 2017 was down 16.15 pct from the similar period of 2016


The number of trading companies that initiated insolvency procedures in Romania in Q1 2017 was down 16.15 pct from the similar period of the year before to 1,932, shows official data published on the website of the National Trade Register Office (ONRC). 

Most insolvencies were registered in Bucharest, specifically 375, down 24.2 pct compared to Q1 2016, followed by Bihor County with 114 insolvencies (-12.98 pct) and Iasi County with 111 (-27.45 pct). 

By activity sector, most of the insolvencies were reported in retail trade, motor vehicle and motorcycle repairing, specifically 555, down 24.18 percent from the similar period of 2016. 

A number of 767 companies entered judicial reorganization this March; 4,004 companies suspended business (-34.88 pct) and 6,089 were dissolved (down 41.75 pct). 

New business registrations with the Trade Register between January 1, 2017 and March 31, 2017 stood at 32,335, down 0.03 percent.