The struggling low-cost airline Norwegian has reported its staffing subsidiaries in Denmark and Sweden have filed for bankruptcy, meaning roughly three quarters of its pilots and crew will lose their jobs.
The American who founded Sweden's globally successful Museum of Failure has been declared personally bankrupt, which he has conceded would be "quite an irony if I wasn't in this mess".
Northland Resources, which employs over 800 people at its Swedish mine, have said that it will file for bankrupty citing a "dramatic fall" in iron ore prices.
Scandinavian airline SAS said on Wednesday it will be profitable next year, thanks to an aggressive cost-cutting drive which prompted objections that it had strong-armed unions in the Scandinavian countries.
SAS's last-minute push to cut costs without first consulting its employees flies in the face of the Swedish model, say union representatives who liken it to "an ultimatum". The final deal represents the first time since the 1930s that employees' wages have decreased.
Despite Scandinavian airline SAS announcing on Monday that all eight unions had signed deals to save the company from bankruptcy, one analyst has predicted that the company needs to change tack if it wants to stay airborne.
With Scandinavian airlines SAS and unions working furiously to avoid potential bankruptcy, The Local brings you the latest news, reactions, and details surrounding the troubled airline.
Scandinavian Airlines representatives met with union officials throughout Sunday night, with all but one of the trade unions signing new collective agreements in an effort to stave off the company's bankruptcy.
A last ditch savings plan to save SAS would make cabin personnel among the lowest paid in the Swedish job market, it emerged on Thursday, amid reports that the airline is closer to bankruptcy than previously thought.
Scandinavian airline SAS has moved to quash rumours that it is facing bankruptcy and that banks are considering not extending loans to the troubled carrier.
News that bankrupt cash transport firm Panaxia will face immediate liquidation has sent shock waves through the Swedish retailing industry, sparking fears about the negative impact the company's demise will have on Sweden's cash handling industry.
Bargain hunters who queued outside stores of the recently bankrupted Swedish home electronics chain Expert were left disappointed as the shelves were found to be empty long before any of the customers entered.
Swedish home electronics chain Expert filed for bankruptcy on Wednesday after cash injections by the owners and strict austerity measures failed to save the company’s finances following several years of losses.
Pirate Bay financier and Swedish crispbread heir Carl Lundström, one of four men convicted of facilitating copyright violations for their role in operating the popular filesharing site, has filed for personal bankruptcy.
Saab's bankruptcy administrator said at a press conference on Saturday that the company is dead but continues to bleed, while retaining hope that a buyer can be found.
Although 2011 may have ended on a sour note for Saab employees, as the year draws to a close, the cars themselves have suddenly become hot property again.
The North American unit of bankrupt Swedish automaker Saab will try to avoid going into bankruptcy itself to keep up warranties for recent car buyers and support dealers left with inventory, a company official said Wednesday.
The Swedish government has described as unfortunate a statement by General Motors (GM) this week threatening to block the transfer of technology licences if two Chinese companies buy Saab.
Chinese firm Pang Da and Sweden's Saab have issued a joint statement to clarify that the contract between the firms is valid, stating that prior comments to the contrary were due to a "misunderstanding".
IF Metall on Tuesday became the third trade union to ask a court to place cash-strapped carmaker Saab in bankruptcy in order to secure wages for its members.
The Swedish court of appeals has agreed to review the application from beleaugered Saab Automobile to undergo reconstruction, an application which was previously rejected by a lower court.
Vänersborg district court in western Sweden has rejected beleaguered carmaker Saab Automobile's applications for restructuring. Chairperson and CEO Victor Muller responded by declaring the firm's intention to appeal
Victor Muller should be replaced as CEO of Saab, a local Swedish politician has argued followed the latest twist in the ongoing cashflow crisis at the beleaguered Swedish car firm.
White-collar staff at cash-strapped Swedish carmaker Saab Automobile will not receive their salaries due on Wednesday, the firm has confirmed in a statement.
