Netled Oy is applying for corporate restructuring, according to the insolvency register.
CEO Niko Kivioja confirms the restructuring procedure to Kauppalehti.
“The company runs on investors’ money. To obtain funding and improve the company’s financial situation, there was no choice but to apply for this arrangement and seek breathing space and build new growth,” Kivioja says. “The general spirit of the times is such that investors are cautious”.
In the restructuring application submitted to the Pirkanmaa District Court, the company justifies the financial difficulties with “strong R&D investments” and a “business model that has proven unprofitable”
“In addition, the huge increase in material and component prices as a result of the cor…
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