Kraft Anlegg AS declared bankrupt, 36 workers lose jobs
Kraft Anlegg AS was placed into bankruptcy by the Agder district court, resulting in the termination of 36 employees.
On Monday, the Agder district court announced the bankruptcy of Kraft Anlegg AS, a recently established contractor specializing in tunnel, power and infrastructure projects. The company, created in the autumn of 2023 as a subsidiary of the larger Kraftmontasje group, had been operating as a total contractor for various rehabilitation works. According to the appointed trustee, the firm could not obtain the needed financing and was hampered by unresolved settlements on several projects, reduced order flow and intense market competition.
The insolvency leaves the business with substantial liabilities and prompts the immediate protection of assets located nationwide. All 36 employees were laid off and are being guided to seek wage guarantee benefits through the bankruptcy estate.
Why it matters
The collapse highlights growing financial strain in Norway's construction sector and threatens jobs for dozens of workers.
In this story
