SBB's goal was to become the largest in the Nordic region, but now that interest rates have risen sharply, the heavily leveraged company has ended up in an acute crisis.
SBB has lost a staggering 93 percent of its market capitalization, and now banks have been tasked with finding buyers for the properties – or the entire company.
Härnösand is the municipality with the largest proportion of SBB-owned public houses, in terms of its size. This includes everything from kindergartens, office premises and schools.
Must act fast
The situation means that Härnösand municipality must act, and quickly;
– Yes, it is now that SBB is in crisis, says Andreas Sjölander (S), chairman of the municipal executive board in Härnösand.
"The worst thing in this situation is that we don't know today who owns the properties tomorrow," says Andreas Sjölander (S),
He wants to avoid new, unknown, owners demanding to raise rents.
"We are discussing internally whether it is time to strike and buy back parts or the entire property portfolio, I can confirm that," he says.
In the clip; how opposition councillors Eva-Clara Vilkund (M) and Andreas Sjölander (S) view the situation.