The debt collection company Intrum Justitia cannot pay – threatened with bankruptcy

Published March 9, 2024 at 11:00 a.m.

Economics. The debt collection company Intrum Justitia is threatened by payment concerns when large loans fall due later this year and the equity in practice is completely wiped out.
 – It could be one of the biggest bankruptcies in the Nordics, says trustee Erik Hagerup to Finansavisen .

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On February 5 this year, the credit rating­institute Standard & Poor's credit rating for Intrum Justitia to junk status and then the debt collection company's share plummeted by 26 percent.

Dagens Industri published an analysis on Thursday that shows that the company in practice has SEK 23 billion in net debt, cleared of intangible fixed assets.

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This gives a de facto negative equity of SEK 23 billion, which means that the financial group is bankrupt if more diffuse assets are excluded.

– All the large high yield managers in the Nordics and Europe sit and watch as Intrum collapses, says trustee Erik Hagerup to the Norwegian Finansavisen and adds:

– It could be one of the largest bankruptcies in the Nordics.

According to DI, the second largest the owner of the Intrum Justitia pension giant AMF, which attracts pension savers with the slogan “AMF – Safe and simple solutions for long-term savings”.