FAILED: Fleks has been working for the past six months to put in place a restructuring of the debt together with creditors and owners, without success. Photo: FLEX
Car subscription company:
For five years, Fleks has invested in car subscriptions in Norway, it was not profitable.
On Monday, it became clear that the car subscription company Fleks is requesting a tender.
– The external factors that have affected Norwegian business and, to a large extent, the Norwegian car industry, have weakened the opportunities for success in an industry where Fleks, as the spearhead, must largely bear the costs of maturation and knowledge building, says Sverre R. Kjær, chairman of Fleks AS in the message.
He highlights the drop in used car prices, increased interest costs and weakened purchasing power as the main reasons why further operations are not possible.
Since 2019, Fleks has delivered subscriptions to more than 14,000 customers in the private and business market.
– It is very sad to acknowledge that this adventure is now over, when at the same time we have become more confident that the business model will succeed in the end and we are more confident that car subscriptions will become one of the most important forms of ownership in the years to come.
Fleks’ largest owners are Bertel O. Steen, Sparebank 1 and Strømstangen, and at the time of tender the company had 60 employees and 2,000 cars.