Boligpartner – one of the country’s largest suppliers of houses is struggling, jobs may be lost – NRK Innlandet – Local news, TV and radio

– I do what I can to save the company. And that all employees must have a job to go to. That is what is in focus for me now, says managing director Eskild Wedvik to NRK.

In a letter, the company announces a complete shutdown at all the company’s construction sites for deliveries and production.

– In order not to put partners, suppliers and customers in a difficult situation, we choose to stop the construction sites until further notice, he says.

Boligpartner has large projects around the country. For example, according to the plan, they will build a low-rise block with 17 apartments in Molde.

They also have plans to build 15 large apartments in a 4-storey block of flats at Flisa in Innlandet.

But now it is a stop.

Asking for help

A new housing market that has been demanding over time has led to missing and postponed projects.

This in turn has led to tougher financial everyday life for the prefabricated house supplier.

Hamar Arbeiderblad first mentioned the case. The newspaper has seen the letter.

In the letter, Wedvik asks its partners for help.

But everything has not stopped, says Wedvik to NRK.

– After all, we work with sales, and there are operations at the head office on drawing and engineering. It is going as normal, because we are working to find a solution, he says.

Wedvik says they are working on a solution within two weeks.

– That is what the action plan is now, to find a solution for the company. It is a very demanding situation.

The company has around 50 sales offices and a nationwide dealer network, which together employ over 500 employees.

According to Wedvik, they have approximately 190 employees, of which approximately 70 have been made redundant since last year.

Tough times for the market

It is no secret that the construction industry has been struggling for a long time.

Jon Kristiansen, regional director of NHO Innlandet, says there have been, and are, tough times for those who build houses, cabins and carry out general renovations.

– After the pandemic, it was tourism that took a hit. Now 8 out of 10 companies in the construction industry tell us that the market outlook is worse.

Kristiansen will not comment on whether he is surprised by Boligpartner’s financial problems. But he praises the way the company is now trying to find solutions:

– It is responsible. They seem to be taking the right measures. They inform about what has happened, and they work to get some kind of refinancing, says Kristiansen.

He adds that there will also be a great need for housing in the future. Therefore, he hopes that the industry avoids both bankruptcies and redundancies as much as possible.

Billions in revenue

According to the company’s website, Boligpartner has delivered architect-designed houses, cottages, apartments and multi-family homes within the prefabricated house concept for many years.

– It is a quality brand that has been built up over 30 years. Everyone who works here is passionate about Boligpartner, and that is our heart, says Wedvik.

Since its establishment in 1993, the company has been behind close to 15,000 housing and cottage projects.

In 2022, the company had operating income of just over one billion kroner.

The results before tax in the same year were around NOK 20.5 million. According to the website proff.no, the company has weak profitability and is not satisfactory liquidity.

Huskjeden is a subsidiary of BP Gruppen Norge AS. But the group has the same administrative management as Boligpartner.

According to BP Gruppen’s website, they own several companies, including Trehusene AS, Økonomipartner, Settlement partner, Tomtepartner and Leite & Howden.

The head office is located at Tjuvholmen in Hamar.