In 2017, the number of Romanian companies with a major impact on the economy went into insolvency decreased by around 7 percent from the previous year. However, the value of privately owned major impact companies that were in insolvency was EUR 1.22 billion at the end of 2017, a 15 percent increase compared to the end of 2016.
Major impact companies are those companies with assets of over EUR 1 million, which generate around 70 percent of the turnover at the national level, and are the engine of the domestic economy, according to studies by CITR group.
At the same time, the total number of Romanian companies which entered an insolvency procedure grew in 2017 by around 9 percent from the previous year (from 8371 to 9102).
In this…
Read the full article at: http://www.business-review.eu/news/citr-fewer-major-impact-insolvencies-in-2017-but-of-higher-total-value-158006
