The bankruptcy applies to the Swedish parent company STS Education, states TT. The company also has about ten subsidiaries in Italy, Germany and the USA, among others, which are not covered by the bankruptcy decision. Nor is the separate company STS Alpresor stated to be covered by the bankruptcy.
-The ongoing business is an asset in bankruptcy. We will try to sell it, says lawyer Johan Sölveland, appointed bankruptcy trustee by Gothenburg District Court, to TT.
According to Sölveland, there are a number of stakeholders and talks are now underway to find a new owner quickly.
Students should not be affected-In the best of worlds, those who have agreements with the company, those who are going on a trip or are traveling, will not notice anything, he says.
According to STS Education, work is underway to ensure that all students who have begun their high school year will be able to complete their year of education.
The company has previously suffered financial losses and claims to have been hit hard by the corona pandemic. Despite support packages, the business has not been able to be saved.
The company has about 40 employees.