Over 5,620 firms went insolvent in Romania in the first four months of 2012, according to data from the national trade registry ONRC.
CITR expects the number of companies to enter insolvency this year will increase. Among the factors that lead to insolvency are the lack of capital, due to a decrease in sales, and not being able to reschedule debts.
Most of the companies that went insolvent this year under CITR supervision operate in the construction and realty sectors (Alia Imobiliara Bucuresti, Concefa Sibiu, Euroconstruct Timisoara, ICIM Arad, Edilitar Mancini, Amarad), commerce (Piritex, Elanko, Can Serv, Corsa, through its brand – House of Art) and production (Romplumb, Europroducts, Veritas Panciu).
CITR managed insolvency procedures for over 500 firms from various fields of activity. It extended its portfolio by 25% this year.