ONRC: Insolvencies drop 12.52 pct in Q1 2020

Insolvencies of trading companies and self-employed persons were 12.52 percent down in Q1 2020 from the same period of the year before, at 1,320, shows data released on the website of the National Trade Register Office (ONRC).

Bucharest tops the list with most insolvencies - 140, down 46.56 pct compared to January - March 2019, followed by Bihor County with 135 insolvencies (+13.45 pct), Constanta with 84 (the same as the year before), and Timis with 78 (+21.88 pct).

By business field, the largest number of insolvencies was in wholesale and retail trade; repair of motor vehicles and motorcycles, specifically 356 (-29.93 pct); constructions - 221 (+0.45 pct) and in the manufacturing industry -178 (-1.11 pct).

There were 464 insolvencies recorded this March, most of them in the counties of Bihor - 41, Constanta - 38 and Timis - 29.