Insolvencies Study First Half of 2015
During the first semester of this year 5,524 new insolvencies were registered, down by 57% compared to the same period of 2014 when 12.862 new insolvencies were opened.
Romania continues to register insolvencies expressed at 1,000 active companies four times higher than the average registered at regional level, with 45 insolvencies per 1,000 active companies, holding the leading position from this point of view.
The number of insolvency proceedings initiated in the first six months of the current year by companies with a turnover above EUR 1 M is 329, a level similar to 2014 figures. Thus, although the number of newly initiated insolvencies in the first half of the current year halved, the financial impact generated within the economy (estimated based on the value of debts not covered by assets) is +163% higher, and the social impact (estimated by the number of jobs that might be lost) is +9% higher.
Considering the sectoral distribution, we noticed a surprise of the first position represented by Manufacture of textile products, clothing & footwear. Constructions, HORECA, Recreational, cultural & sports activities and Metallurgy remain in top five sectors with the highest level of insolvencies reported at 1,000 active companies.
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