RSS
About 50,000 companies have gone bankrupt in 3 years
The number of companies which went bankrupt between January 2008 and September 2010 is close to 50,000. Most bankruptcy procedures were initiated last year when 19,894 companies could not pay their debts. In 2008 there were 15,683 requests approved while in 2010 13,757 companies went bankrupt until 30 September, according to government documents. More than 31,000 bankruptcy procedures were completed until 30 September, of which 9677 in 2008, 12,207 in 2009 and 9236 in the first nine months of 2010..Documents show that over 66% of bankruptcy procedures were completed in one year after the official request. As for bankruptcy procedures already completed, over 70% of them were solved in less than a year. However, of all procedures 57% have been initiated for less than a year. The number of active firms in Romania is over one million.