About 60% of the companies with assets of over EUR 1.5 million are under imminent insolvency risk or in difficulty, said Andrei Cionca, general manager of insolvency firm CITR Group.

In the first three months of 2015, the number of insolvent companies in Romania halved year-on-year. However, 86% of these were companies with no activity, said Cionca.

“The drop in the insolvency number is an inconclusive quantitative indicator about the state of the Romanian economy,” he added, cited by local Mediafax. “The companies which were in difficulty and went through insolvency haven’t significantly recovered.”

editor@romania-insider.com