Krogerus partner Jarmo Makkonen was appointed as administrator in the bankruptcy proceedings of Fenestra Oy, one of the largest manufacturers of doors and windows in the Nordic countries.
In the years before the bankruptcy, Fenestra’s yearly revenue was about EUR 100 million.
Before liquidation, Fenestra owned two factories in Finland and an operating subsidiary in Estonia, Fenestra AS. The Estonian subsidiary continues its operations under the ownership of the bankruptcy estate.
“The bankruptcy estate sold the door factory located in Viitasaari, Finland in just under three weeks after the declaration of bankruptcy,” comments Jarmo.
“Arrangements for liquidating the factory in Kuopio, Finland, as well as the sale of the shares in the Estonian subsidiary, are on-going.”