CITR | Romania Feed

The number of companies in Romania resorting to insolvency proceedings in 2023 remained unchanged compared to 2022 level, namely, at 6,650 firms, according to an analysis conducted by CITR, leader of the local insolvency and restructuring market.

CITR, as the judicial liquidator of Coroana de Aur Hotel, sold the hotel for EUR3.48 million + VAT, to the Moldovan brothers, the owners of the Jelna Winery.

The number of companies facing imminent insolvency in Romania grew to 6.949 in 2022, the highest level of the last 11 years and more than double the level of 3.069 such companies recorded in 2015, as per the latest edition of the survey on impact companies, conducted by CITR, leader of the insolvency and restructuring market.

The number of companies which became insolvent in Romania in the first half of 2023 decreased by 6.2% to 3,290 as compared to 3,510 in the same period of 2022, according to CITR, the main player in the Romanian restructuring and insolvency market.

A total 1,644 companies went insolvent in the first quarter of 2023, which is similar to the level recorded in the same period of 2022 when 1,610 insolvent companies were registered, as per an analysis by insolvency specialist CITR. q1/

More than 6,700 companies entered insolvency in 2022, up 10% from 2021, but just 67 of them are major companies with assets of above EUR1 million, flat from the previous year, reveals a survey by insolvency specialist CITR.

The number of companies facing imminent insolvency decreased by 10% in 2021 versus 2020, down to 5,971 firms, but grew by 7% compared to the level recorded in 2019, at the onset of the coronavirus pandemic, a survey by insolvency specialist CITR shows.

According to CITR, the leader of the restructuring market in Romania, in 2021, companies that want to overcome the crisis and move to the next stage of development must be prepared to anticipate changes and invest in solutions that would help them better manage the risks. Although pressure on cashflow has fallen compared to the […]

Over 7,000 Romanian companies owe more than RON1 million each to the state budget and are faced with a debt crisis on top of the pandemic crisis, according to a reports by CITR, the leading insolvency practice company, part of Impetum Group.

Fiscal facilities and the closure of courts due to pandemic restrictions led to a 42% drop in high-impact companies that accessed insolvency, from 139 in 2019 to 80 in 2020), according to an analysis by CITR, the leading insolvency practice company, part of Impetum Group.