The bankruptcy wave is upon us. Especially in the construction sector, things are going hard at the moment, and all experts estimate that it will get worse before it gets better. Most recently, it has affected the contracting company KØ Enterprise, which has participated in the archaeological excavations in connection with the Fehmarn construction site.
One of the places where you first feel when the crisis hits is in the bank. Especially at Nordea’s commercial department in South Zealand and Lolland-Falster.
The companies influenced
– We find that the companies are affected by continued high raw material prices, high energy prices and to some extent also problems with the supply of materials for use in their production. In addition, some companies are beginning to feel a declining demand for goods and products, which together result in larger inventories, which require more liquidity for the individual, says Ingolf Stenstrup Larsen, who is area director for Nordea’s business customers in South Zealand, Lolland and Falster.
Liquidity plan in the drawer
– It still varies greatly to what extent the individual company is affected by these things. Liquidity is a very important focus area and especially here it is important that we, as a financial partner for the companies, have a close and in-depth dialogue with our customers so that the company has a plan in the drawer, says Ingolf Stenstrup Larsen from Nordea.
Security must be provided
FemernReport described last week how companies must be careful about drawing on the overdraft to hold on to their employees, even if there is not much for them to do. In times of crisis, the bank is also typically somewhat more reluctant to lend money or grant credit. And as a company, you have to adjust to the fact that you cannot borrow money on your smooth face or a potentially good project.
– Unfortunately, we have also locally experienced companies that unfortunately are declared bankrupt, which unfortunately also affects subcontractors. It is an unhappy situation for everyone and which reminds us that guarantees in a collaborative relationship are often a good and necessary solution, says Ingolf Stenstrup Larsen.
