Some 5,455 companies became insolvent in Romania in the first eight months of this year, down 20.6% over the same period in 2015, according to the National Trade Registry’s Office - ONRC.

Most insolvencies were recorded in Bucharest, namely 1,113, down 12.3% compared to the same period last year.

The second largest number of insolvencies were seen in the Bihor county, with 379. The number went up by 2% compared to the first eight months of 2015. Iasi ranked third, with 330 companies that entered insolvency during this period, up 17.8% year-on-year.

Based on the activity, most insolvencies were seen in the wholesale and retail trade sector, followed by the repair of motor vehicles and motorcycles.

Some 11,600 firms suspended their activity in the first eight months of this year, down 1% compared to the same period last year.

editor@romania-insider.com