Companies with 850m-euro business insolvent

As part of its new anti-crisis plan, the Government should announce the creation of a national investment fund fuelled by minority stakes the state holds in various companies, which should be used for investment projects. While companies continue to slip into the crisis and more and more are becoming acquainted with the taste of insolvency, the Govenrment is beginning to fail even in organising anti-crisis seminars. With few measures likely to make an impact and curb recession effects taken in the first few months of the year, the Government was supposed to announce a new plan yesterday during a debate organised by the Chamber of Deputies, which was eventually cancelled (at the request of PSD and PNL). Meanwhile, companies are suffering: the top ten companies currently insolvent total 850 million euros in business and 10,000 employees. This year insolvency has been hitting manufacturing companies such as Medeus, while last year those affected were retail companies like Pic, Flamingo and K Tech Ultra Pro.

The Prime Minister’s economic affairs advisor, Andreea Paul-Vass says that the Government’s steps towards fighting the crisis target the economy in its entirety and not a specific ailing company. She says the new anti-crisis programme will not be publicly revealed until presented by Emil Boc to Parliament.