Insolvencies up 9% in 2010, deregistrations and dissolutions down

The number of companies that sought protection under insolvency law rose by 9% compared with 2009, with the number of voluntary deregistrations up by 292%, while the number of voluntary dissolutions fell 78%, with the number of companies suspending their operations down by over 50%.

On December 31st 2010, there were 888,584 companies registered in Romania, according to data of the Romanian Trade Registry (ONRC).
In an extremely difficult year, the number of companies closing was more than double the number of new entries.
The number of companies that suspended their operations, were deregistered or voluntarily dissolved last year exceeded 245,000, compared with 119,0000 registered firms. A better sign is that the number of registered companies was nearly 7,000 higher than in 2009, with the overall number of economic operators registered in Romania amounting to over 888,000 at the end of 2010.