Construction company Puurakentajat Group has filed for bankruptcy.
According to the insolvency register of the Judicial Register Center, the company specializing in solid wood construction filed for bankruptcy at the Helsinki District Court on Tuesday. The company itself applies for bankruptcy.
Puurakentajat is one of the medium-sized builders in terms of turnover. According to Asiakastieto, its turnover last year was 26.3 million euros. The company’s operations have grown rapidly, because even in 2021 the company made a turnover of less than 6 million euros. At the same time, the company’s business lost almost 4 million euros last year.
Puurakentajat specializes in large solid wood construction projects. The company has built public buildings, apartment buildings and offices from solid wood.
The solid wood elements are manufactured by Timberpoint, which was purchased by the group in 2020. Its factory is located in Loviisa.
Wood builders The most spectacular construction sites have been the Helsinki central library Oodi, the headquarters of the gaming company Supercell, and the wooden structures of the wooden apartment buildings in the so-called Wood City in Jätkäsaari in Helsinki.
The company has also been selected as the contractor for the Katajanokka Pier project in Helsinki, where the new headquarters of the forest company Stora Enso and the S group hotel should be completed. Installation work on the building’s wooden frame began at the beginning of the year, and last year it was estimated that the building would be opened in the summer of next year.
At the beginning of this year, the Toivanen family’s investment company Onvest became the majority owner of Puurakentijen, when, among other things, the founder of Puurakentijen Jyrki Huttunen sold his holdings.
The company’s other owners were the state capital investment company Tesi at the beginning of the year and the CEO of Puurakentanjien, who resigned from his position in August Mikko Leino.
He was the first to tell about the bankruptcy application of the wood builders Trade magazine.
Housing construction alakulo has brought down several construction companies in the fall.
So far, the biggest bankrupt company is Siklatilat. The district court of Oulu put the company, which had a turnover of almost 110 million euros in 2021, into bankruptcy at the beginning of September.