Four bankruptcies in one year

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According to Drammens Tidende, the car rental companies Fegmat and Redline Auto Insurance in Drammen, Norway are bankrupt. 

Among other things, the companies, owned by Fritz And Turid Ringstad, had been transporting salmon to Southern Europe through the subsidiary Redline Int Thermo.

Last year, Redline Int Thermo went bankrupt. Ringstad restarted the company, this time under the name of Redline AS.

This summer, that company also went bankrupt, and Friday the same happened to Fegmat. Fegmat rented out refrigerators to the Redline companies and has a debt of €266,000.

“It is a consequence of the bankruptcy of Redline. They rented out vehicles to Redline Int. Thermo and Redline AS,” says lawyer Lene Langseth.

On Monday, Redline Auto Shipping went bankrupt and now Fegmat Holding is at risk as well.

Turid Ringstad told Drammens Tidende that she doesn’t want to make any comment on the current situation.