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Top 10 the biggest companies in insolvency in the last five years
The top of the ten biggest companies in insolvency between 2011 – 2015 is led by the electricity producer Hidroelectrica, followed by the Roment industrial group and the chemical unit Oltchim, says Ziarul Financiar.
Out of the ten companies in the top, three are already bankrupt and one is written out so that almost 5,000 work places disappeared from the economy. One company, Hidroelectrica managed to get out of the payment incapacity, according to a report of the consultancy company Coface. These companies had business of 8.5 billon lei, 10% of the business in insolvency, and 12,600 employees in the year before the payment incapacity year.
Romania recorded a number of 105,545 companies which got into insolvency between 2011 – 2015. The Coface data show that the biggest companies in insolvency between 2011 – 2015 are usually big businesses with tradition on the market.Thus, 40% out of the 100 businesses have over 15 years of operation, being mature businesses. Most of them got into payment incapacity at their own request and the most exposed and the biggest losers are the suppliers taking into consideration the structure of the debts.