The number of companies with assets of over 1 million euros entered into insolvency in 2024 increased by 58% year/year, and the number of requests for preventive has been doubled. CITR: Forecasts indicate a wave of insolvency, many companies surviving artificially so far through various support measures

The number of companies that resorted to insolvency procedures in 2024 increased by over 9% compared to the previous year and reached the threshold of 7.274. Of these, 141 are impact companies, with assets of over 1 million euros, compared to 90 in the previous year, the equivalent of an increase of 58%. In parallel, the number of applications for restructuring through the preventive agreement procedure had a significant increase in 2024, of 118%, reaching 197, notes an analysis of CITR, the leader of the insolvency and restructuring market in Romania. Globally, insolvency register an accelerated growth with an extra 11% estimate for the whole year, after a 7% jump in 2023. Of the countries with an impact on the economy of Romania, Germany registered in the last quarter of 2024 the highest number of companies since 2009, putting a significant pressure on the high industries, the negative evolution being partially attributed to the current and the current economic. increasing the cost of energy and wages. Thus, in the context of more restrictive financial conditions and the weaker external demand, the local economy faced challenges related to maintaining the stability of prices and supporting the growth, say CITR consultants. «Although under the levels of the global financial crisis in 2008, insolvency in many countries, including the United Kingdom, France and Germany, have already exceeded pre-pandemic thresholds, reflecting increased economic pressures and transition to new business models. This tendency is felt in most regions and economic sectors, including in Romania, also driven by the «elimination of infusions» offered to companies during pandemic and energy crisis. The insolvency and requests for preventive agreement from 2024 in Romania show us that the business environment also goes through a transformation. The current prospects indicate an imminent wave of insolvency, because many companies have been artificially maintained in life through various support measures. These companies resort to recovery solutions when it is too late, which significantly reduces the chances of success. ” explains Paul-Dieter Cîrlănaru, CEO Citr. Last year, the most affected sectors were the wholesale and retail trade, leader in 2024, with 1,902 insolvency, up 6.79% compared to 2023, the construction sector, with 1,499 insolvency, up 13.39% and the processing industry, with 852 insolvency, up 7.17%. Most open insolvency were registered in Bucharest (1,375) and in Bihor (581), Cluj (529) and Timiş (424) counting 40% of the total. Reported in the counties, the largest percentage increases in insolvency are registered, in Brasov, with an increase of 46.39%, followed by Botosani, where the number of insolvency increased by 36.84%, and Bacău, with an advance of 35.78%. This tendency could indicate a deterioration of the economic conditions at regional level, affecting both the big and dynamic counties (Brasov) and those with a more fragile economy (Botosani, Bacău). The phenomenon can be related to the cost of lending, decreased internal demand or difficulties in industrial and construction sectors. «The preventive agreement can represent, if accessed at the beginning of the difficulty, an effective solution, which allows companies to restructure, maintaining their activity and jobs. At the same time, for the economy, the broader use of preventive mechanisms, such as preventive agreement, can reduce the economic impact of insolvency. ” added Paul-Dieter Cîrlănaru, CEO CITR. Citr consultants also say that inflation, although decreasing, continues to be fed by increasing prices for fuels and foods, as well as by wage increases that put pressure on production costs. In addition, economic imbalances risk accelerating the financial problems of companies.


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