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Danish company Scandinavia Farms Invest has gone bankrupt after only a few years and at least half a billion danish crowns invested, ScandAsia reported. Scandinavian Farm Invest has been running a big pig farm between Beijing and Shanghai. It had been one of the most effective farms in the country before everything started to go wrong. It wasn’t just one drop that made the cup overflow, but many things that started to go wrong for pig production in China. Tricky market conditions included an increase in the price of the feed, while the price of pig meat has decreased.
Scandinavian airline SAS AB will cancel and redeem all of its common shares and commercial hybrid bonds when it emerges from chapter 11 bankruptcy proceedings in the U.S. around June, Bloomberg News reported. “SAS reiterates its expectation that there will be only a modest recovery for general unsecured creditors, no recovery for subordinated creditors and no value for SAS AB’s existing shareholders,” the carrier said in a statement released at 11 p.m. Stockholm time on Tuesday.
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The Danish company Nordic Waste has triggered a political scandal by filing for bankruptcy, EuroNews reported. The bankruptcy of the company - which deals with the reprocessing of contaminated soil - could cost taxpayers €27 million. After they post their bankruptcy filing, the Danish state will likely have to pay for the clean-up work required after a mega landslide at a reprocessing plant for contaminated soil. At the beginning of the week, the Ministry of the Environment issued interim injunctions against Nordic Waste. After that ruling, the company declared bankruptcy.
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The volume of commercial property transactions in the Nordic region fell to the lowest level in a decade last year, in an ominous sign for landlords needing to offload assets to bolster their finances, Bloomberg News reported. In 2023, only €20 billion ($21.9 billion) of properties traded hands in the region, property adviser Colliers International Group Inc said in an emailed statement. Activity tumbled by 64% in Finland compared with a year earlier, while volumes in Norway, Sweden and Denmark slumped by slightly more than half.
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