On 16 August 2021, the board has decided to submit an application for bankruptcy for Oboya Horticulture Industries AB.
During the past year, Oboya has undergone a long and tough reconstruction. "Despite this, we have not succeeded in achieving profitability in the group as a whole," the company announces.
The share continues to be blocked from trading, which has prevented new issues and has made it difficult to deal with suppliers and customers.
"Covid has led to 10-12 times higher prices for shipping from China to the EU where we have our main business. The price of raw materials such as plastic has risen by about 30%, which also leads to reduced margins and reduced order intake in China and Poland."
At the same time, metal prices have risen by about 60%, which means that Oboya's metal factory has lost 80% of sales.
It is very unfortunate to be forced to take this measure, especially for everyone who has been involved in the company in recent years.
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