On Tuesday, the construction and property company Serneke Sweden announced that it had filed for bankruptcy with the Gothenburg District Court.
Now, several media outlets are reporting that all construction projects have been stopped immediately.
The company has several large projects underway. Among other things, it is building a new wastewater treatment plant in Kalmar, a new School of Business, Economics and Law in Goteborg, and a new urban district in Lund.
In addition, Serneke is also building, among other things, new district courts in Norrköping and Vänersborg, a new remand prison in Halmstad, and new swimming halls in Gothenburg.
"Very Unfortunate"
Another major project involves the School of Business, Economics and Law in Gothenburg, commissioned by the state-owned property company Akademiska Hus, reports Dagens industri (Di).
The bankruptcy is very unfortunate and came as a surprise to us. Serneke is the contractor for our project to build a major extension to the School of Business, Economics and Law in Gothenburg. Unfortunately, the work has now stopped and we have secured the construction site, says Ulrika Hörgren, project area manager at Akademiska Hus, to Di.
According to the newspaper, over 100 projects are affected.
550 Employees
The company's communications manager Johan Live tells SvD that the bankruptcy affects 550 employees.
Serneke Sweden was acquired last year by the German holding company Mutares, which hoped to secure Serneke Sweden's position as a leading player in the construction sector in Sweden.
However, the financial situation for Serneke Sweden has deteriorated significantly over the year, and the company has, according to a press release, not been able to secure the short-term liquidity required to continue operations.
Lawyer Jörgen Wistrand has been appointed as the bankruptcy trustee.
