Panorama Romania Insolvencies

The number of newly initiated insolvency procedures in 2014 it significantly dwindled last year (-28%, according to Coface estimates), down to 21,815 initiated procedures. Coface reckons that the significant decrease in insolvencies registered in 2014 year-over-year is relevant strictly from the statistical perspective, with this trend occurring due to a basic effect, as well as to the decrease in the number of insolvencies among very small companies. Moreover, by the estimated number of insolvencies, Romania, alongside Serbia, remains among the countries with the highest incidence compared to the average number of insolvencies per 1,000 active companies in the region. The construction industry, the textile, waste, HORECA and food sectors are the top 5 sectors with the highest number of insolvencies at every 1,000 active enterprises, for 2014.

The geographical distribution of insolvent enterprises has undergone significant changes vs. previous year. If newly filled insolvency cases during 2014 has seen similar contraction at regional level vs previous year, Bucharest is the only exception,