More than 3,500 companies go into insolvency in first six months of 2022

More than 3,500 companies went into insolvency in the first half of 2022 in Romania, the processing industry and constructions being the most affected areas, according to an analysis carried out by the leader of the insolvency and restructuring market CITR.

The construction sector is significantly affected by the increase in the price of building materials and fuel, the increase in interest rates and the lack of manpower, while the processing industry is influenced by the galloping increase in electricity and fuel prices, the hampering of supply chains, the decrease in orders and the increase in financing costs, CITR representatives said.

In the first three months of the year, 1,713 companies went into insolvency, followed by another 1,867 in the second quarter. The number of insolvencies is approximately at the same level as in the first half of 2021, when 3,033 insolvencies were registered.AGERPRES