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Insolvency firms go for broke

While construction and transportation companies have been the most likely to fall prey to insolvency, specialists say that small and medium retailers, pharmaceuticals, IT and heavy industry firms are starting to join them in higher numbers. By Dana Verdes and Magda Purice

September 2011 - From the Print Edition

With 96 percent of stricken companies choosing bankruptcy, The Diplomat-Bucharest analyzes the main hurdles in handling the reorganization process, and asks why bankruptcy is now a more popular choice than restructuring.
The credit crunch has seriously damaged a lot of industries, with numerous companies facing cash flow problems and accumulating heavy debts, forcing them to restructure their activity in order to try to survive.
And although GDP rose by 0.6 percent in Q1 from Q4 of 2...

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