Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Folkeuniversitetet, a Norwegian non-profit organization offering courses and adult education, including language training and vocational programs, declared bankruptcy in September 2024. The institution has long provided education in areas such as healthcare, logistics, and management, as well as authorization courses for healthcare professionals in Norway. The restructuring affects the organization's main operations but excludes Folkeuniversitetets Fagskole AS, which continues functioning independently. This likely entails that 38 out of a total 189 employees in the organization will be retained.
The bankruptcy is primarily linked to a difficult organizational restructuring process that started with the 2019 merger of Folkeuniversitetet's seven regional divisions. The organization has been unprofitable since the merger, reporting major yearly losses.
The bankruptcy means that Folkeuniversitetets operational continuity is now under the control of a court-appointed trustee. Folkeuniversitetet ("The Peolpe's University") was established in 1864 and has a rich history connected to renowned figures like Henrik Ibsen and Bjørnstjerne Bjørnson. It has operated as part of the Study Association for Lifelong Learning since the Adult Education Act of 1977.
Eurofound (2024), Folkeuniversitetet, Bankruptcy in Norway, factsheet number 201658, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201658.