Empower Group’s withdrawal from Swedish subsidiaries finalized

ons 3 maj 2017 18:07:00

Empower Group decided to withdraw from its Swedish subsidiaries Empower AB and Empower Industry AB in 2016. The withdrawal has now been finalized. The indebted subsidiaries were filed into corporate restructuring in fall 2016. During the restructuring process it became apparent that the equity of Empower AB and Empower Industry AB could not be restored. The subsidiaries have been filed for bankruptcy on 28th April 2017. 

This does not affect Empower Group’s operations outside Sweden. The arrangements have a positive effect on Empower Group’s result. Empower has three branch offices in Sweden that continue the profitable business in the Swedish market.