Coface: Twice as many payment delays in November, crisis aggravating

The number of payments delayed by companies has doubled in November, data gathered by the financial evaluation agency Coface indicate. The trend is considered as a sign of the fact that the financial crisis is deepening in Romania. Most incidents involve companies in the constructions segment, IT and retail distribution.

The cash crisis in Romania is confirmed by the increasing number of companies seeing their payment instruments refused by the banks, because of the lack of cash into the accounts, Coface adds. Out of 3,500 companies verified by Coface during the [past two months, 5% were noted as having payment incidents.

Although the situation is of nature to stir concern, Coface adds that a fact even more to worry about is that the list of companies with problems includes names considered as having a good financial situation in 2007.

In October and November, some 2,000 insolvency files were opened.