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.
Henrik J. Askviks Sønner, a Norwegian producer of the 'Askeladden' leisure boats, went bankrupt on 13th of November. All the 163 employees have received redundancy notice.
The bankruptcy follows a marked decline in sales since last summer, and the finance crisis is stated as main reason why attempts of bringing in new investors have failed in a situation with debts amounting to 170 million NOK. The bank - DnB NOR - is in the process of finding new investors, but it is not expected that production can be started up again with the help of new investors in the near future.
Eurofound (2008), Henrik J. Askviks Sønner, Bankruptcy in Norway, factsheet number 67407, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67407.