Land-based fish farming consultancy Morefish folds
Company had struggled in 'wait-and-see' market caused by three-year halt for granting of licences
The company's manager and main owner, Svein Martinsen, said in a statement to Adresseavisen that it was no longer possible to continue operating and that it was best for everyone to close down. The company had five employees at the time of the bankruptcy.
The reason for this was a debt of NOK 1.8 million that the company could no longer service, combined with outstanding money that it was unable to collect. Liquidity thus became extremely tight.
Martinsen further tells Adresseavisen that the firm has been struggling throughout the past year.
"We have worked in the land-based farming segment and especially with early-phase projects. There has been a three-year halt in the granting of licences in the industry. Then you have the salmon tax, which has caused some ups and downs in the industry. It has been a wait-and-see market," Martinsen tells the newspaper.