Insolvencies Study Q1-Q3 2015
According to Bulletin of Insolvency Proceedings (BPI) and to Coface methodology, in the first nine month of 2015, 7,389 new insolvency procedures were opened, 53% lower than the same period of the last year, when 15,670 were opened.
Despite this, approximately 98% of shrinkage is caused by the decrease of insolvent companies with turnover below EUR 100 K. At the same time, the decreasing of insolvency number is caused by a significant base effect. However, Romania continues to register insolvencies four times as many (45 insolvencies related to 1,000 active companies) as the average registered within Central Europe Region, being on top from this point of view. Not list, during the first nine months of this year 451 insolvencies were opened among companies with a turnover above 1 MEUR, a slightly increase, compared to 437, which is the level registered during the same period of 2014. Although the number of newly opened insolvencies in the first nine months of this year halved, the financial impact generated within the economy (estimated by the amount of debt not covered by assets) it is twice as high, and the social impact, (estimated by the number of jobs that could be lost), is 5% higher.
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