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Number of insolvencies drops in 2018, while suspensions, deregistrations up from 2017

The number of commercial companies and authorized persons that filed for insolvency dropped by 8.77pct in 2018 compared to the same period of the previous year to 8,304, according to the data posted on the website of the National Office of Trade Register (ONRC).

Most of the companies and authorized persons in insolvency were registered in Bucharest, respectively 1,637, down 17.66pct over the same period in 2017. The hierarchy continues with the counties of Bihor - with 571 insolvencies (+10.87pct), Timis - with 432 (+6.93pct), Iasi - with 423 (-27.44pct) and Constanta - with 414 (+4.28pct).

By field of activity, the largest number of insolvencies was recorded in the first 10 months of 2018 in the wholesale and retail trade, repair of motor vehicles and motorcycles, namely 2,606 (minus 7.69pct).

At the same time, 18,038 firms suspended their operations in 2018, an increase of 10.12pct over the previous year, of which 1,375 in December, and 34,358 companies were dissolved, by 10,13pct more than in 2017.