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.
Construction Construction Of Buildings And Infrastructure Engineering Construction Of Buildings 41.2 - Construction Of Residential And Non-Residential Buildings
117 jobs Number of planned job losses
Announcement Date
25 September 2023
Employment effect (start)
25 September 2023
Foreseen end date
25 October 2023
Description
Construction contractor KF Entreprenør has declared bankruptcy. The company had 117 employees in Norway, with headquarters in Oslo and an additional office in Østfold. The company had 284 million NOK in debt when declaring bankruptcy. Contributing factors to the bankruptcy included difficulties with high sick leave during the pandemic, volatile prices of building materials and declining acticity in the construction sector, as well as delivery issues in several projects. The estate manager worked with several interested companies with the aim of transferring and continuing projects, but these efforts were ultimately unsuccessful in securing jobs for the employees.
Eurofound (2023), KF Entreprenør, Bankruptcy in Norway, factsheet number 200404, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200404.
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