Danish aquaculture equipment supplier Billund Aquaculture has announced the company’s closure due to financial challenges.
Chairman Jon Refsnes expressed deep regret to the company’s customers and employees, emphasizing that there were no other options in a press release issued Friday,
The shareholders, Havbruksparken Utvikling AS, Stoksund AS, and the Sørensen family, have been joint owners since the summer of 2022.
The company’s finances were adversely affected by the pandemic and the Ukraine war. Despite significant changes in project and risk management over the past two years, these efforts were not enough to secure the necessary capital for continued operations.
Managing Director Kristoffer Lund stated that the company had good operations over the past year. However, challenges from previous operations made it difficult to secure sufficient capital.
“Based on this, the board has concluded that there is no basis for further operation,” said Refsnes. “Efforts will now be made to find the best possible solutions for all our employees, customers, and creditors.”
