FiiZK undergoes significant restructuring amid bankruptcy announcements.
Amid a significant restructuring, five of the eight companies under Trondheim-based aquaculture industry supply group Fiizk have announced bankruptcy, records from a Norwegian district court revealed on Monday.
The news follows an incident in November last year, when two semi-closed cages provided by Fiizk suffered “unexpected damage” at their Sognefjord production site in Western Norway.
The accident, which occurred during a storm, saw 400 litres of diesel escape from one of the damaged unites and two cranes damaged.
Assembly of the semi-closed cages covering 30,000 cubic meters, was almost complete when the accident occurred.
The debts and asset values for the companies declared bankrupt are as follows:
- Fiizk Closed Systems: Debt of NOK 201.6 million (€17.5 million) with assets worth NOK 285,780 (€25,000).
- Fiizk Holding: Debt of NOK 102.3 million (€8.9 million) and assets valued at NOK 25.8 million (€2.2 million).
- Fiizk Operational Services: Equal debt and asset values of NOK 3.2 million (€290,000).
- Fiizk Group: NOK 13.6 million (€1.2 million) in debt, with assets totalling NOK 399,187 (€35,000).
- Fiizk Ecomerden: Debt stands at NOK 171.3 million (€14.9 million), and assets are estimated at NOK 63.6 million (€5.5 million).
