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.
Manufacturing Manufacture For Transport Equipment Manufacture Of Other Transport Equipment 30 - Manufacture of other transport equipment
163 jobs Number of planned job losses
Announcement Date
14 November 2008
Employment effect (start)
17 November 2008
Foreseen end date
31 December 2008
Description
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.
Sources
14 November 2008: Aftenposten
14 November 2008: Plastforum
Citation
Eurofound (2008), Henrik J. Askviks Sønner, Bankruptcy in Norway, factsheet number 67407, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67407.
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