Eight staff and 15 temps affected as Blåfjell files for bankruptcy.
Blåfjell a land-based char operation in Lierne, Trøndelag, has filed for bankruptcy after failing to attract long-term investors.
Chairman Arne Øvereng said the company had no choice but to halt operations.
“We have not managed to secure investors for the long term, and then it is really just to stop operations,” Øvereng told E24.
Øvereng joined the board four weeks ago with the mandate of raising capital. He said the company faced liquidity issues after production setbacks this summer. Prolonged hot weather affected both fish and equipment, leading to fewer harvest-ready fish in the second half of the year than projected.
The board estimated a capital requirement of NOK 15 million ($1.46 million/€1.28 million) to implement necessary measures.
Blåfjell recorded a pre-tax loss of NOK 10.5 million ($1.03 million/€0.89 million) in 2024, following a pre-tax loss of NOK 9 million ($0.89 million/€0.77 million) in 2023. The company has posted annual losses for the past four years.
The bankruptcy affects eight permanent employees and 15 temporary staff. A trustee has now taken over responsibility for employees and fish.
Blåfjell has around 500 shareholders. The company acknowledged in previous communications that its financial situation had remained strained despite a share issue earlier this year.
Blåfjell also filed for bankruptcy in 2020, but continued operations after attracting a major investor.
