This should not be interpreted as a first step towards bankruptcy or shutdown for the Swedish operations, but quite the opposite. It gives us more time and space to sort out our finances, says Chris Poad, CEO of Mathem, to the newspaper.
As part of the effort to significantly reduce costs, Mathem has also decided to close its warehouses in Gothenburg and Malmö, which means that customers will have to place their orders a little earlier, says Chris Poad to Dagens industri.
The decision means that a total of 300 jobs at the two facilities will disappear from the company.
A company reconstruction is established by the court and means that debts are frozen and no one can request the company's bankruptcy during this time.
