Monday, Mar 23, 2020. 17:50

1/3 of Romanian firms face bankruptcy in short- and medium-term

Photo by Andrey_Popov/Shutterstock.com

More than 280,000 Romanian companies, representing about a third of all active firms in the country, currently face a high risk of insolvency, according to a study conducted by Termene.ro, a platform that offers updated information in real-time about the financial and legal data of the Romanian companies.

Photo by Andrey_Popov/Shutterstock.com

The insolvency risk is average for 27,000 companies, low for 146,000 companies and very low for 223,000 companies, romania-insider.com reports

Separately, 37% of the local companies have reduced their activity and 23% closed operations due to the Covid-19 pandemic. Only 40% of companies have continued their activity at a normal pace.

“Thus, we have the premises to believe that at least one-third of the Romanian companies are prone to bankruptcy in the short and medium-term,” romania-insider.com cites the study as saying.

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