Billund Aquaculture announces its bankruptcy
Norway: The company's president Jon Refsnes said that they deeply regret the decision in front of customers and employees, but emphasizes that unfortunately, there are no other possible options.
"We have come to the conclusion that there is no basis to continue operating," stated the board of Billund Aquaculture, which on Friday filed for bankruptcy, announcing it through a press release.
Chairman Jon Refsnes said they deeply regret the decision to the company's clients and employees, but emphasizes that unfortunately there are no other possible options.
The current shareholders, Havbruksparken Utvikling, Stoksund, and the founders of the Sørensen family, have been co-owners since 2022.
The company's finances were affected during the pandemic and the consequences of the war in Ukraine, but in the last two years, significant changes have been implemented in project and risk management.
CEO Kristoffer Lund stated that the company had good operations last year. "Unfortunately, there have been too many challenges in previous operations, which made it difficult to find sufficient capital for future operations".
Despite good operational progress, the company's efforts to secure its capital needs were ultimately hindered by disputes prior to the 2022 changes.
"Based on this, the board concluded that there is no basis to continue with the operation. Efforts will now be made to find the best possible solutions for all our employees, customers, and creditors," the company stated.
Operations in Chile
In a press release, Billund Aquaculture Chile reported that the continuity of the operation in Chile is guaranteed. This is because it is an independent company, so it will not be affected by events at its parent company.
Marcelo Varela, CEO of Billund Aquaculture Chile, stated that “our operation will continue as normal, maintaining our commitment to excellence in service and in the delivery of cutting-edge RAS technology solutions. We will continue to serve our customers, ensuring that the capabilities that have made us leaders in the industry remain intact within our local organization. We appreciate the trust and ongoing support during this period. We reaffirm our commitment to the innovation and quality that has always characterized us."
