Tag: Bankruptcy
37 million euros were invested in 248 startups from Finnish angel investors
FiBAN’s annual investment and exit survey maps the development and effects of angel investments. “FiBAN members care about the social impact of their investments. We reach a significant part of Finnish angel investors, but private investments also take place outside of FiBAN,” says Annukka MickelssonTemporary CEO of FiBAN. Figure 1: Investments reported by FiBAN members […]
EU nation sees bankruptcies rise – Bloomberg
The number of insolvencies in Sweden has increased as consumption declines, the outlet reports Bankruptcies in Sweden soared for a seventh straight month in February, amid falling household consumption and growing pressure on construction companies from an ongoing crisis in the housing market, Bloomberg reported this week. A sharp slump in Sweden’s real estate sector […]
The EU nation sees the number of bankruptcies increasing in Bloomberg
The number of insolvencies in Sweden has increased as consumption declines, the outlet reports Bankruptcies in Sweden soared for a seventh straight month in February, amid falling household consumption and growing pressure on construction companies from an ongoing crisis in the housing market, Bloomberg reported this week. A sharp slump in Sweden’s real estate sector […]
Denmark sees the most bankruptcies in a decade
Already a tenuous positionIn September alone, 251 bankruptcies were filed nationwide – an increase of 7.6 percent compared to the previous month – leading to 1,242 lost jobs (almost 40 percent more than in August). Interestingly, companies that had been given a pandemic exemption, VAT loan accounted for 45 percent of the bankruptcies during the […]
Papers: Bankruptcy at the Helsinki shipyard
The sanctions imposed on Russia due to the war in Ukraine have had a strong impact on the institution.
New hope for SAS as an American company confirms plans to invest
Subject to approval, the American investment company Apollo Global Management has confirmed that it will give SAS a loan of 700 million US dollars. The loan will help SAS pay its employees’ salaries over the next 9-12 months, while also strengthening its financial position ahead of a restructuring, after which it will be known as […]
The share prices of Fortum and Uniper continue to fall due to the rescue package news
Energy company Fortum’s share price continued to fall on Monday after the opening of the Helsinki Stock Exchange. The stock fell about seven percent in afternoon trade. The share of Fortum’s German subsidiary Uniper, meanwhile, was down more than nine percent on the Frankfurt stock exchange. The share prices of the two companies fell on […]
‘The battle is lost,’ says the SAS dealer, who must reach an agreement today
SAS and its pilots will reach an agreement today, said SAS chief negotiator Marianne Hernæs, before the talks resumed this morning in Stockholm. reported DR. “It’s enough today, because it starts to become irresponsible when SAS loses so much money,” said Hernæs. “As a dealer, you get to a point where you have to realize […]
The company, which went bankrupt, owes tens of thousands of unpaid taxes
MP Ano Turtiainen (VKK) power plant Gometal has been declared bankrupt due to unpaid taxes of more than tens of thousands of euros. The South Savo District Court ruled in the case last Thursday after finding a company in South Savo insolvent. The tax administration filed for bankruptcy, according to which the company has tens […]
Finnish Fazer: Leaving Russia, but the process is "complex"
The Finnish food company Fazer has reiterated its intention to exit the Russian market, denying incorrect information in the local media that the company would continue to operate in the country. Referring to the Russian invasion of Ukraine, Fazer announced on March 6 that it would cease all operations in Russia. Last weekend, Fazer announced […]
The Russian ruling party is proposing the expropriation of outgoing companies
He said the Kremlin should take strong retaliation and consider expropriating the activities of companies withdrawing from the market as a means of protecting local workers and national production potential. “In all cases, the decisions have been strictly political. Their price is a large number of Russian workers who will be laid off overnight, ”Turtshak […]
Nord Stream 2 files for bankruptcy
The Swiss company behind the DKK 75 billion Nord Stream 2 gas pipeline has filed for bankruptcy and fired all its employees after Western sanctions, according to Swiss radio station SRF. Nord Stream 2 AG, which is owned by the Russian state-owned gas giant Gazprom, is seeking to settle its bankruptcy claims ahead of a […]
The Finnish ruling parties have agreed to delay the reform of the Mining Act
The permits for mining, mineral exploration and gold mining must also lay down stricter provisions to ensure that such activities do not adversely affect other forms of commercial activity. The provisions on regional reserves will be reformed to strengthen the position of landowners by halving the period of validity of the rights deriving from the […]
Part 3/3 Algots – The Struggle for Survival
In the factory, the conveyor belt rolls on as usual. Once an hour it is stopped and then the young women can go to the toilet or take a break. But sales are not going as well as before. In countries where wages are lower than in Sweden, clothes are pumped out and competition in […]
John forged a dead woman’s signature
This section: Johannes Heüman was born in 1882 into a church family. His late relative Jarl Torgersson in Gothenburg has searched for the story that Johannes’ family probably liked to see forgotten. From John’s father there was an express wish that he should become a priest, but the son refused. Johannes instead wanted to devote […]
Finnish earlight company Valkee is filing for bankruptcy
Oulu-based product development, research and design services company Valkee has filed for bankruptcy in the city’s district court due to excessive debt. The company’s best-known product, launched more than a decade ago, Valkee 2, is a series of in-ear headphones that shine a bright LED light on the user’s ears and are supposed to relieve […]
Pandas may have to be returned to China, the mayor of Ähtäri warns
Two Chinese-borrowed giant pandas arrived at Ähtäri Zoo in western Finland in 2018. Under the Finnish names Lumi (Lumi) and Pyry (Blizzard), they quickly became popular favorites, but their maintenance costs the department about one million euros a year. Now the South Ostrobothnia Zoo is in financial trouble due to the decrease in the number […]
The National Audit Office must calculate the price for rescuing the banks
The purpose at the time was to get the pension funds to sell foreign securities in favor of the Danish government bond, whereby currency was released to the banks that could not pay installments on foreign loans. The banking packages that were supposed to save and protect the banks during and after the financial crisis […]
The upper limit for the victim’s bankruptcy estate is 2,500 euros
The bankruptcy estate of the hacked therapy center Vastamo has proposed limiting the compensation to be paid to the victim to 2,500 euros. Thousands of people have applied for compensation from the bankruptcy estate. The legacy proposed a payment of € 2,500 in a statement it sent to creditors. At this point, the amount is […]
Guidance boy boxed with Shearer and Henry
On October 6, he turns 50 years old. His football career began in the childhood town of Vejle. But it only really took off when the promising midfielder switched to Silkeborg. Here he won the first of two championships he has helped to pick up on Danish soil, and the level also secured him a […]
Employment in Denmark reaches record highs ever
A record 2.85 million people are employed in Denmark according to Statistics Denmark. The latest figures for July confirmed a net increase of 7,000 jobs – the sixth month in a row that the employment rate has risen. The net increase on pre-corona rates is 51,000 jobs. “These are incredibly positive rates we are seeing […]
Bankrupt Kasi family is excluded from business management for two years
It writes the business media Finans on the basis of an order from the Maritime and Commercial Court. The decision was made on Friday last week. Thus, the three people who are related to each other have been given a so-called bankruptcy quarantine that lasts for two years. The Maritime and Commercial Court has found […]
Several Finnish business leaders have criminal convictions, the study says
The research team has reportedly studied the impact of the backgrounds of business leaders for more than a decade. First research, published in 2013, found that 33.1 per cent of CEOs of Swedish listed companies had a criminal record. According to the latest study, the trend in criminal records among managers has continued in Sweden […]
The circus king who sold elephants to the state
In 1976, the son took over the pants. And on Tuesday, August 3, Benny Berdino, who debuted in the manege already as a seven-year-old, turns 75 years old. With his good mood and big arm movements, he has since lifted Cirkus Arena to become the largest in the Nordic region. He has even received the […]
Research: Improvement of spring reported by SMEs following easing of Covid restrictions
A recent survey by the Finnish Business Association shows that business improved for small businesses during the spring as coronavirus restrictions eased. More and more entrepreneurs are saying that their business is in difficulty or at risk of going bankrupt or considering closing down. Only four percent of those surveyed say they fear their business […]
Convicted of fraud Britta Nielsen must still retain her pension
Convicted Briton Nielsen will still not be able to seize her pension, as the Copenhagen City Court had otherwise decided. The Eastern High Court on Wednesday ruled in a ruling, writes Ekstra Bladet, which has gained insight into the decision. The now 66-year-old Britta Nielsen was in February 2020 sentenced to six and a half […]
Fewer bankruptcies in the first quarter, but more employees lost their jobs
The number of bankruptcies filed in January-March this year decreased by 12.4 per cent from the corresponding period in 2020, according to Statistics Finland’s new figures. However, the number of employees in companies subject to bankruptcy applications was more than 4% higher than a year ago. Bankruptcies decreased in all sectors except agriculture, forestry and […]
Bankruptcy threat over the sport of shooting when lead bans are investigated
Swedish sport shooting is in danger when the EU is now investigating a ban on lead ammunition. Both a ban and severe restrictions would hit the sport of shooting hard, says union leader Jonas Edman, who fears bankruptcy and exclusion. Both the Swedish Sport Shooting Association and the Biathlon Association are currently submitting their consultation […]
750 million in new crisis support for culture
The government is extending crisis support to the cultural area and allocating an additional SEK 750 million. “The crisis support that we have paid out so far has meant an enormous amount to a great many companies that have escaped bankruptcy, it has saved jobs. This has meant that it has been possible to keep […]
Residents of Fredens Havn lose case – must remove boats
Esben Banke, “Storken” and several other residents of Fredens Havn must pay coercive fines, as long as they do not remove the boats as they live in Erdkehlgraven, which is west of Christiania. On Monday, the Eastern High Court upheld essentially five judgments from the Copenhagen City Court to the residents. This is stated in […]
The government wants to be able to close down Saab companies
The government now wants the opportunity to close down the state-owned spare parts company Orio, which was previously called Saab Parts. The company is headquartered in Nyköping and has a total of around 180 employees. According to the government, Orio has had a negative economic development, documents that Ekot has read show. Orio sells spare […]
Kristian Åström: The banks show large and stable profits
Nordea today reported a profit before tax of SEK 10.6 billion for the first quarter. As a result, all four major banks in Sweden have reported results that have exceeded market expectations. Good profits nonetheless, it is reduced credit losses that are most surprising. Reduced credit losses are the common thread in the four bank […]
Merkel questioned about historic financial scandal
In what is called the biggest financial scandal in Germany’s modern history, Chancellor Angela Merkel is testifying before a committee of inquiry today. The financial technology company Wirecard apparently dealt with accounting fraud in the multi-billion class for many years, before the company filed for bankruptcy last year. In parallel with the criminal investigation, the […]
Yle Sources: Bars and restaurants are starting to reopen, but with new restrictions
After a six-week closure linked to the epidemic, restaurants, cafes, bars and nightclubs may reopen in 13 areas, but their operations will still be partially restricted, according to Yle sources. Establishments in areas considered to be in the process of accelerating the epidemic or in the Community have been closed since 9 March. According to […]
Crisis in Malmö goes bankrupt – has not had any clients
The association Kriminella’s revenge in society – Kris – in Malmö has filed for bankruptcy, several media reports. The association helps addicts and criminals to find their way back to society. But in the last two years, no clients have been placed with Kris and the economy has suffered. Kris Malmö had about 200 members […]
OVERVIEW: Focus on the country’s births
Since the turn of the year, several media, including Femina and DR, have focused on conditions in the country’s maternity wards. They have reported violent events. This has again focused on the conditions in the Capital Region’s maternity wards in particular. On Tuesday, Minister of Health Magnus Heunicke (S) will be convened by the Unity […]
Right to extend the confiscation of the founder of problematic psychotherapy companies by EUR 10 million
On Wednesday, the Helsinki District Court ordered the seizure of an average of EUR 10 million from the former CEO of Vastamo’s psychotherapy company and his parents. A private mental health service company was caught in the midst of a hacking and blackmail scandal after it emerged that highly sensitive information about thousands of patients […]
Almost 120,000 booked an appointment with the hairdresser on Tuesday
This is stated in a press release from the software company EG, which owns Hairtools. The almost 120,000 appointments have been made in less than 24 hours, and it is also a record. The number thus beats by lengths the numbers that hairdressers experience in high seasons such as Christmas. The record-breaking interest in booking […]
Makeup giant in bankruptcy – but continues to stay open
The make-up chain Make Up Store has undergone a reconstruction but is now going bankrupt, writes Breakit, which quotes Dagens Handel. But despite the bankruptcy, the stores continue to remain open and the bankruptcy trustee hopes to be able to find a buyer for the business. The chain was founded in 1996 and opened its […]
The Prime Minister’s trip to Israel receives criticism from all sides
Prime Minister Mette Frederiksen’s (S) decision to go to Israel to discuss joint efforts against covid-19 with the country’s Prime Minister Benjamin Netanyahu and Austrian Chancellor Sebastian Kurz is facing criticism. The criticism is on several fronts. For example, the Liberal Party’s chairman, Jakob Ellemann-Jensen, is far from convinced that the trip was worth postponing […]
Skavsta’s CEO: Need money – otherwise we risk bankruptcy
Skavsta airport risks bankruptcy if they do not receive help from the municipality of Nyköping, says the airport’s CEO Cédric Fechter to SVT. The pandemic has hit Skavsta hard, and now Cédric Fechter wants the municipality to act as guarantor so that Skavsta can take out a bank loan. Cédric Fechter tells SVT that they […]
Customer information: Restaurant bankruptcies increased at the end of last month in Finland
According to a review of the data, the total number of bankruptcies fell by 23 per cent in February from the previous year to 153. Statistics Finland has also published preliminary data on bankruptcy proceedings initiated during the first weeks of the year. Statistical Office reported Last month, the number of bankruptcy proceedings between industries […]
The restaurants in Oslo are closing again
From midnight tonight until today and until March 15, all restaurants in Oslo will be closed, with the exception of takeaway. At the same time, 6 out of 10 restaurant owners in the capital fear bankruptcy, and many have been forced to lay off staff. “It is bars and nightclubs that have been open for […]
Ellemann will open until May after vaccinating everyone over the age of 50
He says this to Politiken. – Once we have vaccinated all 50 plus-year-olds, we are somewhere else. A place where the risk is different than today. There we say that then we can open Denmark. Under certain conditions. It is clear that one can not just say that then all restrictions will lapse, says the […]
Reopening from March 1 offers store openings across the country
Department stores, such as clothing and furniture stores, up to 5,000 square meters can be reopened with stricter distance requirements from March 1 across the country. However, not stores located in malls. Larger stores can also open to a limited number of customers upon appointment. But it requires an approval from the health authorities. This […]
Many of the corporate bankruptcies may have been preceded by fraud
The credit information company UC has studied what the companies looked like six months before the bankruptcy and seen signs of deviant behavior. These may be falsified financial statements and companies that have secured large credits and quantities of goods just before bankruptcy. In customs, for example, the construction and staffing industry, fraud may have […]
The hacked psychotherapy center Vastamo is filing for bankruptcy
Psychotherapy company Vastamo has filed for bankruptcy. The company was liquidated at the end of January. Lassi Nyyssönen The law firm Fennolta was appointed as liquidator, but after assessing the situation, it was decided that the liquidation procedure could not be carried out. "Very quickly it became clear that the company’s clear, undisputed debts exceeded […]
From Iceland – Geysir’s staff who have yet to hear from the owner about the future of the company
After being laid off last week, Geysir’s employees still have to hear about their future at the company or whether they will receive any unemployment benefits. This was announced by Fréttablaðið, who spoke to an employee this morning about the situation they have been left with. One week ago, all employees received a message from […]
The government will continue restaurant and bar restrictions until June
The Finnish government has proposed extending the restrictions on restaurants, bars and cafés by the end of June. The current rules are valid until the end of February. The center-left Cabinet submitted a proposal to amend the Communicable Diseases Act to Parliament on Thursday. Restrictions were temporarily added to the law last May. Timo Lappi, […]
Majority will increase compensation for the self-employed
– The government, together with the parliamentary parties, has stretched a very large safety net, but it is clear that there are companies and shops that are under heavy pressure. – This is an adjustment that can help keep your hand under small shops that are having a hard time, he says at a doorstep […]
Finland can state that the wave of bankruptcy will begin in February
In such areas, a wave of bankruptcies has so far been avoided due to a change in the temporary legislation passed last spring, which restricts creditors to creditors’ bankruptcy. The impact of the change, according to the newspaper, has been noticeable: the number of bankruptcies was about 17 percent lower than in the previous year […]
Fredericia gets new musical theater after theater bankruptcy
It is not more than nine months ago that Fredericia Theater went bankrupt, but now a new theater is opening in the city. Fredericia will thus have a new musical theater, Fredericia Municipality informs in a press release. The city council approved the foundation foundation at a meeting Thursday. This means that the city has […]
FACTS: Council recommends increased competition in the legal profession
The Competition Council comes in a new analysis of the legal industry with 16 recommendations for how competition in the industry can be strengthened. See the recommendations here: * Relax the rules of law firm ownership and management. * Expand the possible “purpose” of law firms, including allowing multidisciplinary partnerships in Denmark. * Allow for […]
Monday’s pages: Bankruptcies, the “silent killer” and pandemic puppies
There may be a wave of bankruptcies in Finland this spring, it is reported Evening News, which states that some of Covid ‘s business support activities are narrowing. At the end of January, the temporary protection expires, which has limited the ability of creditors to force a company into bankruptcy to recover debts. According to […]
Business Round-Up: 2020 sets Danish record in the housing market
Unexpected and unprecedentedWhen the housing market joined the rest of the economy by stopping in March, few predicted the sales volume that would come – not least Boligsiden’s own communications manager Birgit Daetz. “For a long time we were unsure if it would come to life again at all, but it did, and it did […]
Complaints about nursing homes have risen by 50 percent in two years
The treatment of the elderly in nursing homes has been discussed since TV2’s documentary about Else Marie Larsen at the nursing home Kongsgården in Aarhus this summer. In the first half of 2020, according to the survey, 185 complaints were counted, corresponding to almost all complaints in the whole of 2017, which is among other […]
Classic British department store chain in bankruptcy
Founded in 1778 and having 124 department stores around the UK will not be able to be saved but will go bankrupt. The department store chain has been struggling for a long time, and has not been able to adapt to new shopping habits, for example. The Corona pandemic was the last straw. The Debenhams […]
The State Housing Office is requesting loans from the Youth Foundation
Historically related to the Central Party, the Housing Company has had state-subsidized loans after several corruption scandals. The loans were canceled after the previous management of the Central Party’s affiliated Finnish community (Youth Foundation) questioned the economic activity. Former leaders of the Youth Foundation Aki Haaro and Perttu Nousiainen accused of corruption and serious fraud […]
Gröna Lund warns of bankruptcy
Gröna Lund must be allowed to open as soon as possible next year. Otherwise, the amusement park, which has existed since 1883, risks being closed for good. Gröna Lund’s CEO Magnus Widell warns that the situation is serious. “Now we have not had income for a year. If we do not open 2021, it is […]
Norwegian is applying for bankruptcy protection
The airline Norwegian, which was stopped trading on the Oslo Stock Exchange this afternoon, is applying for bankruptcy protection for its Irish subsidiaries, according to a press release that came just a while ago. Bankruptcy protection could mean that crisis Norwegian can save itself from a final bankruptcy, writes Norwegian Finansavisen.
The youth wing of the Finnish party convicted of ethnic unrest
On Wednesday, the Pirkanmaa District Court convicted two members of the Finnish party’s youth wing of ethnic agitation. Toni Jalonen, a former youth vice chairman of the Finnish Party, was sentenced to 50 days for inciting an ethnic group and ordered to pay 300 euros. Johannes Sipola, who served as Finland’s chairman of the Lapland […]
The risk of bankruptcy increases for the Finnish service sector, the study shows
Lauri Vuori, Palta’s chief economist revealed on Tuesday that the risk of bankruptcy is greatest for small and medium-sized businesses, especially in administrative and support services such as travel agencies, as well as communications and information industry publications. In the logistics and transport sector, on the other hand, the risk is high, especially for companies […]
Fewer companies collapse in Sweden
The number of corporate bankruptcies decreased during October and also if you count from the beginning of the year, the number of bankruptcies has decreased, new figures from the authority Growth Analysis show. Yes, in October bankruptcy cases were initiated for more than 500 companies against almost 800 in October last year, a decrease of […]
The Liberals demand pub support after the alcohol ban
Following the announcement that restaurants will no longer be allowed to sell alcohol after 10 pm, the Liberals are now demanding that the restaurant industry be compensated. The party can envisage both direct industry support or, for example, a reduction in employer contributions. Liberal Party leader Nyamko Sabuni. – We demand that the government presents […]
Low credit losses for all major Swedish banks
Nordea today reported a profit of SEK 11 billion for the third quarter. Thus, the bank follows other major Swedish banks that report this week. – Low credit losses and good profits, says Ekot financial commentator Kristian Åström Is there a corona effect in the banks’ results for the third quarter? Yes, of course, if […]
Crisis for many lunch restaurants
Many lunch restaurants are on their knees and there are still far fewer customers there than before the pandemic, according to the trade association Visita. This is partly due to the recommendation to work from home. Anders Hedin, runs several lunch restaurants in Gothenburg, including Kooperativet, for Ekot. – We have unfortunately had to get […]
New record – more and more people are threatened with a red card after bankruptcy
The curve of the number of bankruptcy quarantine cases maintains a steady course – and it is upwards. For example, the Maritime and Commercial Court has experienced a large increase. In the first six months of the year, the court received 470 new cases. It must be seen in relation to the fact that the […]
Salmon CEO neglected accounting and took out illegal loans
P4 Väst has previously reported that two members of the board of the company Quality Salmon, which is behind the planned salmon farm in Sotenäs, have been involved in a major bankruptcy scandal. Now the company’s front figure and CEO Roy Høiås is in bad weather. The annual reports of the Norwegian company Lighthouse Finance, […]
No state funding for the youth wing of the Finnish Party for the third year
The youth wing of the Nationalist Finnish Party will not receive state funding for the third year in a row. The Ministry of Education and Culture confirmed to Yle that the group had not submitted an application for funding before Monday’s deadline. In the spring, the Finnish party severed ties with its former youth wing […]
The environmental office could have stopped the Hovslättsindustrin
The fear of municipal officials to put the entrepreneur in an economic crisis meant that no action was taken earlier against the industry in Hovslätt, which has become an environmental scandal. During a police interrogation, the inspector who was responsible for supervising the chrome industry said that they avoided financial sanctions, so that the man […]
From Iceland – Government launches new economic package; Trade unions especially disappointed
Yesterday, the Prime Minister Katrín Jakobsdóttir introduced a a new economic stimulus aimed at keeping Iceland’s economy alive with the coronary epidemic. The emphasis has drawn criticism from the workforce; in particular the trade union Efling, which characterized the package as “support only[ing] employers and the rich “. The exercise package has eight main points […]
The government presents measures to stabilize the labor market
In an effort to address tensions in the labor market, the Icelandic government will implement eight measures to support businesses and minimize job losses. Prime Minister Katrín Jakobsdóttir during today’s press conference / fot. Visir.is/Vilhelm Prime Minister Katrín Jakobsdóttir, announced its roadmap at a short press conference just before noon today. The Icelandic Confederation of […]
Horesta misses pay-help agreement: We will see layoffs
It is positive that bars and restaurants are compensated with a new agreement after they have had their opening hours reduced. However, the agreement has several shortcomings, according to Horesta, which is an industry organization for the hotel, restaurant and tourism industry. For example, there is no help for salaries, just as the help is […]
Horesta on new agreement: Does not save the many employees
It is positive that bars and restaurants are compensated with a new agreement after they have had their opening hours reduced. However, the agreement has several shortcomings, according to Horesta, which is an industry organization for the hotel, restaurant and tourism industry. For example, expenses for salaries are not compensated. And it’s one of the […]
Bankruptcies down despite the interest rate crisis
The number of bankruptcy notices decreased in almost all sectors during the first eight months of the year, according to Statistics Finland’s new figures. According to Statistics Finland, fewer corporate bankruptcies were recorded in Finland in January-August than in the previous year. The number-breaking agency said Wednesday that in the first eight months of the […]
