Norway: Broker goes bankrupt
One of Norway’s largest print brokers, Polinor from Drammen, is bankrupt. This according to papers filed to the Norwegian Brønnøysund Register Centre.
The bankruptcy process has been opened at Buskerud District Court by lawyer Per Karsten Wahl. First court meeting is due March 15 at Buskerud District Court.
As this was a broker business, there are no production facilities or equipment involved in the bankrupcty. Lawyer Christer Tryti-Almquist, who is also involved in the process, tells Grafkom that all the employees have been laid off and that debt so far amounts to 9,5 million NOK. He adds that they have not seen any interest in the estate so far.
As late as in 2018 and 2019, Polinor had a turn over of approximately 75 million NOK a year. The turn over fell considerably to 49 million NOK in 2020 and 43 million NOK in 2021.
Polinor has mainly focused on DM, magazines, catalogues and books. The company has placed most of its production outside of Norway.