WinWinD has submitted a voluntary petition on bankruptcy to the District Court
on October 3, 2013. The District Court has allowed the petition and appointed
Attorney Pauliina Tenhunen as the Administrator to take care of the further
WinWinD has been incurring heavy losses for the past several years and the
company's debts are currently close to € 300 million. The efforts of
WinWinD in trying to arrange for necessary funding and approval for
restructuring process has not been successful and hence this decision. This
bankruptcy will affect a total of 130 employees from Finland and Sweden.
regret that the current international financial uncertainty and the decrease in
demand in wind energy sector have made it difficult in recent years to develop
the business, increase sales and reach profitability.
particularly sorry to WinWinD’s personnel and their families, customers,
suppliers, company's other financiers and stakeholders and would like to inform
one and all that as there was no other alternative in sight, the company had to
resort to the decision to submit a voluntary bankruptcy petition.