Number of insolvent firms in Q1 of 2014 down 10 percent on year

The number of firms that have entered insolvency in the first three months of 2014 is down 9.75 percent compared to last year: from 7,535 companies in Q1 2013 to 6,800 companies in Q1 2014, according to data released by ONRC.

Most insolvencies were recorded in Bucharest (1,182, up 23.13 percent), Bihor (453, up 27.97 percent) and Prahova (354, up 39.37 percent).

At a national level, 26 counties recorded drops in the number of insolvencies, with percentages of 1.35 to 75.66 percent.

The luckiest counties were Calarasi (27 cases), Neamt (36 cases) and Giurgiu (37 cases).

Most companies experiencing financial difficulties operate in the field of commerce (1,801 insolvent companies, down from 1,853 last year), constructions (736 compared to 876) and premanufacturing (517 compared to 619).

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In total, 29,500 companies entered insolvency last year and 130,000 since the start of the crisis.