Twice as more bankruptcies than last year - Coface anticipates for Romania

Publish date: 25-09-2008
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The number of bankruptcies might double by the end of the year compared to the end of last year and the top's winning loser is commerce, according to the Coface Romania director, Cristian Ionescu.

After the first six months there were almost 7,500 bankruptcy cases, 43.65 percent of them being accounted for by commerce companies, another 3,000 cases by distribution companies and 11 percent by contractors.

The construction industry is seen by Ionescu as the most risky, due to the liquidity crisis, triggering payment delays and to the contracts not allowing for raw materials price increases.

The fourth biggest loser is the wood processing segment, with 412 cases, followed by transportations on the fifth place, food and beverage industry on the sixth, hotels and restaurants.

Transporters' climb from the eight position last year to the fifth is put down to the fuel price rise, which mostly affected small companies in the area.

The segments considered least risky are those of electric and thermic energy producers and suppliers, water and gas suppliers, metallurgy, financial intermediaries, telecommunications and IT.

The regional analysis of this year's bankruptcies shows that the highest insolvency rate belongs to the capital, with almost 1,000 cases, followed by Timis (740 cases), Vrancea, that surged from the 19th place in 2007 to the third, and Prahova, moving from the 11th place to the fourth.


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