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BRIEF-Renonorden ASA file for bankruptcy
September 18, 2017 / 7:19 PM / 3 months ago

BRIEF-Renonorden ASA file for bankruptcy

Sept 18 (Reuters) - Renonorden Asa -

* Renonorden ASA: file for bankruptcy

* Lenders, DNB and Den Danske Bank have announced that no further funds will be available to either Renonorden AS or Renonorden ASA

* Renonorden AS and Renonorden ASA both will file for bankruptcy without undue delay

* Banks stated they intend to offer financing to subsidiaries in Denmark, Sweden, Finland on an independent basis to support continued business

* Since sept 6 entered into new negotiations wit municipalities to terminate 9 unprofitable customer contracts entered into in 2015, H1 2016

* Company has failed to achieve a satisfactory solution and have informed its parent and lenders thereof Source text for Eikon: Further company coverage: (Bengaluru Newsroom)

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