Number of insolvencies surges 47 percent in January 2018

After 9,100 companies went into insolvency last year, which was an increase of 8.7 percent year-on-year, the number of companies that went into administration continued to grow.

According to Trade Registry data, 753 companies went into insolvency in the first month of this year. The growth rate stood at 47 percent and most of the new insolvencies were recorded in Bucharest, says zf.ro.

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Most of the fresh insolvencies were seen in commerce (216), construction and manufacturing.

In 2017, the number of companies with a turnover above EUR 1 million that went into administration decreased.

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Companies with private capital in insolvency had at the end of 2017 fixed assets worth EUR 1.2 billion, up 15 percent year-on-year.