On Friday, the company filed for bankruptcy with the Helsinki District Court.
Helsinki Real estate agency Blok filed a bankruptcy petition with the Helsinki District Court on Friday.
“We request that Blok Enterprises Oy be declared bankrupt, because the company is insolvent in accordance with Chapter 2, Section 3, Subsection 1 of the Bankruptcy Act (20.2.2004/120),” the company wrote in its application.
However, the application is being canceled within the same day, says the company’s CEO Rudi Skogman for HS.
Blok said in its press release published on Friday that the business operations of the parent company Blok Enterprises and Brik Kotie have been sold to the real estate brokerage company Magenta Homes in a business transaction completed on November 23. As a result of the transaction, Bloki’s customers will be transferred to the new owner. According to Blok, the change does not affect the terms of the company’s customers’ contracts.
Both Blok Enterprises and Brik Kodit filed for bankruptcy on Friday. However, it was “my own fault”, as Skogman expresses it.
“I pulled the trigger a little differently than I intended. The bankruptcy application will be canceled during this day,” he says.
According to Skogman, it’s about the fact that the parent company is being run down due to a business deal, and bankruptcy seemed like the “most straightforward option” to Skogman.
“This was my own misunderstanding,” says Skogman.
Skogman’s according to the background of the sale is that the founders of the company are leaving the company to the left.
“It is quite normal for startups to do this at some point. The idea is that the company will be transferred to operators who have a background in finance and who are able to finance the business and move it forward if necessary,” says Skogman.
Skogman also admits that the subdued housing market has also been reflected in Blok’s financial situation as a clear decrease in turnover.
According to Skogman, Bloki currently has more than 300 customers, which will therefore be transferred to the new owner. The arrangement has no effect on customers’ contracts.
“Everything continues in the same way from the customers’ point of view. The same brokers handle things and the same brand continues,” says Skogman.
According to Suomen Asiakastieto, Brik Kodit, founded in 2017, made an operating profit of 63,000 euros with a turnover of 1.4 million euros in 2020.
Kauppalehti first reported on filing for bankruptcy.
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