Bankruptcy estate seeks successor for ski wax manufacturer Startex in Hollola

A bankruptcy estate is seeking a successor for the operations of the well-known Hollola-based ski wax manufacturer, Startex. According to the estate administrator, lawyer Lassi Nyyssönen, assets related to the business are currently for sale. “The future of the operations will clarify in the next 2-3 months. There are about ten serious interested parties with whom negotiations are ongoing,” Nyyssönen stated.

Startex filed for bankruptcy at the beginning of September 2024. The bankruptcy application indicates that the company’s estimated debts exceed €2.1 million, with major creditors including Nordea Bank, Finnvera, and Rapala VMC Corporation. Startex’s assets are estimated at around €1.2 million.

The bankruptcy estate has terminated the employment of approximately ten Startex staff members, adhering to a 14-day notice period. However, work will continue for a while, and some employees are expected to be rehired.

“Likely, there will be a clearance sale at the Hollola production facility on October 4th and 5th, featuring consumer products,” Nyyssönen added.

In addition to ski wax, Startex’s product range has included ski poles, walking poles, roller skates, and spare parts for these items.