More than 6,700 companies entered insolvency in 2022

More than 6,700 companies entered insolvency in 2022, a 10 percent increase compared to 2021. Of these, 67 are impact companies, which accumulate more than 5,500 employees, register assets worth more than RON 1.5 billion and debts to the state budget of more than RON 170 million, according to the analysis of CITR, the leader of the insolvency and restructuring market in Romania .

"Despite the attempts made by the European regulations to encourage fast and efficient restructuring mechanisms, we observe a maintenance of inertia regarding companies in difficulty. Although in Romania we have two new restructuring mechanisms introduced in time in our legislation, we notice that only 1 percent of the impact companies that could benefit from a restructuring came under the protection of the insolvency law, most of them being procedures at the request of creditors, not from own will," said Paul Dieter Cîrlănaru, CEO of CITR.