The Electrocompany has found investors: operations continue

Friday, June 22, 2018

On Wednesday, I announced that the traditional Norwegian hifi manufacturer Electrocompaniet had declared bankruptcy.

Then, Fredrik Bie told the law firm Hammervold Pind that the company owed the bank a loss of NOK 32 million, but that it worked to find a solution that made it possible to move on.

Rearises

They have apparently found that solution now. The Electrocompany announces in a press release that a group of investors led by the company’s board member Roy Gausaker has bought the estate and that the operation will resume as of Monday 25 June.

Investor Group is in the process of restructuring the company’s debt, and also adds fresh capital, according to the press release.

Former CEO Mikal Dreggevik turns over to become manager of business development, while Øyvind Lundbakk, who has been Product Manager in Altibox until now, takes over as CEO.

In a Facebook message, the company writes that they “feel relaxed” that there will be no change for the customers and that those with fresh money on board are ready to take over the world.

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