Romanian Insolvent Companies Up 10% Dec ‘09-Jan ‘10

More than 2,000 Romanian firms became insolvent in January 2010, up by almost 10% since December, with a total 18,421 firms announcing insolvency in 2009, according to the National Trade Registry Office (ONRC).

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Most of the companies which announced insolvency in January 2010 were registered in Bucharest (238) and the counties Cluj (146), Constanta (125) and Timis (112). The lowest number of insolvent companies was recorded in Covasna (3) and Calarasi (9), according to ONRC data.

Most of the insolvent companies had activities in trade (40%), constructions and manufacturing (15% each) and real estate (5%).

In 2009, the number of insolvent firms grew by 25% from the 14,724 in 2008. Most cases were announced in the final two months of last year - 2,115 in November and 1,879 in December.

The majority of 2009's insolvent firms were located in Bucharest (2,109) and the counties Constanta (1,042), Bihor (984) and Cluj (900).

Around one million firms were registered in Romania by the end of the year.

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