Danish book binder bankrupt – assets acquired by the valuator

The Danish book binder Gramo in Balling was recently declared bankrupt. According to Danish news paper Skive Folkeblad, the assets of the company have been acquired by the same person that acted as valuator in the bankruptcy process.

Gramo has lately bought two other Danish book binders – the last acquisition was completed just before Corona broke out. And the corona virus is named as the reason for the bankruptcy.

Danish company Johansen Grafisk from Holstebro had also given an offer for the bankruptcy estate of Gramo and it looked like Gramo was to be saved through this offer. But in the end the valuator tabled a higher bid that was accepted, reports Skive Folkeblad according to printogmedier.dk.

Erik Dyeremose, CEO of Gramo, says to the news paper that it is now unlikely that the company will start up again and that 15-20 jobs are lost.