Mounting challenges tied to two complex construction projects for a single client have culminated in significant financial losses, forcing a major Danish company to seek bankruptcy protection. Despite months of determined effort, management ultimately found the situation unsustainable and took the difficult decision to wind down operations.
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Scandi Byg A/S, a specialist in modular wooden buildings, announced the filing after extensive discussions with its owner, Nordic Wood Industries. CEO Henrik Mielke expressed deep regret, stating the company had fought tirelessly to stabilise its position, but could no longer bear the financial burden.
The decision was supported by Nordic Wood Industries, which had taken over Scandi Byg in 2023 during an earlier financial crisis. Group CEO Thomas Raunsbæk described the move as a last resort, acknowledging that despite dedicated efforts to preserve the company, bankruptcy was the only viable option.
Based in Løgstør, Denmark, the company employs 150 people across its administrative, production, and project departments. Some employees may be offered roles if parts of the business can be restructured into a leaner operation.
Source: www.wood-supply.dk