The data shows the current bankruptcy wave is a somehow a necessary, albeit painful, recovery of the economy. The companies that survived only due to the favorable context are now eliminated from the market.
“The wave of insolvencies of 2024 and 2025 is not just about taxes or energy. It is about the lack of financial education. Many Romanian entrepreneurs do not differentiate between ‘profit’ and ‘cash’. They can be profitable on paper, but enter bankruptcy as they lack cash to pay suppliers tomorrow,” stated Ovidiu Neacsu, a coordinating partner at Sierra Quadrant.
National Trade Register data analyzed by Sierra Quadrant shows that 2024 represented the peak of fiscal pressure, driving the number of insolvencies to 7,274.
Estimates for end-2025 point to the possibility of the 8,000-company threshold being breached.
(English version by Catalina Apostoiu)