Lorentzen & Co — Norway’s oldest shipbroker — has declared bankruptcy.
The 104-year-old outfit suffered years of financial losses in the run-up to Wednesday’s decision, as reported by Finansavisen, and the bankruptcy follows a change in ownership at parent company Tidships.
According to the Norwegian business newspaper, the company was renamed Lilleaker Shipping Advisors with the intention that Tidships would then take over a reconstituted company.
