According to a release from AktieTorget, the share ONE Media Holding AB will be de-listed from Aktietorget platform, where it has been trading since January 2010, after market close today due to a bankruptcy application. The share is halted. The firm’s business idea was to help companies and organization to improve their customer communications and sales. The Nordic communications group has been working with things like multichannel marketing, direct communication and contact centre services. Recently the company had around 600 owners. This is the fourth bankruptcy in AktieTorget within a short period. New and used car dealer Kindwalls Bil left a bankruptcy petition just last week and earlier this summer RFID developer Scirocco and retailer Brandworld went under.
The situation in ONE Media came to a conclusion after its lender did not accept a write-down on debt and instead demanded full repayment. When this did not happen, it froze the company’s accounts, which now renders other solutions implausible. There had been an ongoing attempt to restructure operations into One CC AB and the fate of those assets will be determined in the coming proceedings. All the warnings signs had been visible for months already as the company did not pay interest on its convertible bond in May and President & CEO Lars Lindqvist left his post in June. Since then there had not been an acting operative leader and the Board was handling relevant communications.
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