A construction company in Northern Denmark has filed for bankruptcy, affecting 26 full-time workers. M2 Byg ApS based in Dronninglund entered bankruptcy proceedings this week.
The firm specialized in carpentry, masonry, and construction work throughout Denmark's North Jutland region. Court-appointed administrator Ulla Skov confirmed the company submitted its bankruptcy petition last Friday.
"We began processing the case on Monday," Skov said in a statement. "We are still forming an overview of the situation."
Financial records from August showed surprising results. The company actually reported a profit of approximately 600,000 Danish kroner ($86,000). This represented an improvement of about 250,000 kroner compared to the previous year.
Company director Martin Wulff, who co-owns the business with Jacob Krogh, explained the bankruptcy through email. He cited missing or delayed orders as the primary cause.
Wulff addressed the staff situation directly. "Several employees have been offered work on unfinished projects," he stated.
The director revealed the company had very few active projects when bankruptcy proceedings began. This sudden collapse despite recent profits highlights the construction industry's volatility in regional Denmark.
Northern Jutland's construction sector faces ongoing challenges with project delays and uncertain order books. The bankruptcy leaves 26 skilled workers seeking employment in a competitive regional market.