Insolvencies drop 7.4pct in January

The number of companies and self-employed persons facing insolvency decreased by 7.4 percent in January compared with last year, to 463, according to data posted on the website of the National Trade Register Office (ONRC).

Most of them were in Bucharest, namely 80, down 15.79 percent from the first month of 2018. The ranking continues with the counties of Bihor, 59 insolvencies (+22.92 percent), Cluj, 29 (+61.11 percent) and Constanta, 26 (+4 percent).

By business field, in 2019, the largest number of insolvencies was recorded in wholesale and retail trade; repair of motor vehicles and motorcycles, 114 (-22.45 percent), constructions - 84 (+10.53 percent), manufacturing industry - 55 (-12.7 percent).

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