I requested the bankruptcy documents for BBS Oyj from the district court out of pure curiosity a few weeks ago, and I thought I’d share a few words about them here. According to the inventory of the estate dated February 17, 2025, the value of the company’s assets was estimated at approximately 1,300,000 euros, of which 1,000,000 euros consisted of intangible assets, 100,000 euros of tangible assets, and the rest was almost entirely cash in bank accounts. The intangible assets consist primarily of the Artebone product, along with its related research data and intellectual property rights.
According to the debtor’s report, the company attempted to sell its business operations as well as its share capital around the same time the CE marking process was suspended, but without success. The sale was carried out in cooperation with their partner, ConAlliance.
Prior to filing for bankruptcy, the company contacted 237 industry players. Of these, 28 stated they were not interested in BBS’s business, 198 did not respond to the contact, two examined the material more closely, and nine expressed preliminary interest. Apparently, shortly after this, the company ended up filing for bankruptcy.
The bankruptcy trustee later contacted 283 parties (mostly the same ones as before) regarding the company’s assets. One party showed interest in acquiring the assets during the spring of 2025 and had even visited Reisjärvi to inspect them. Later, however, they stated they were no longer interested in purchasing any of the estate’s assets. The same parties were contacted again in the summer of 2025, at which point one of those contacted was interested only in the estate’s production equipment, but they too eventually announced they were no longer interested in continuing the acquisition process.
The debtor’s report states that the liquidation of assets has proven to be extremely difficult. Primarily, the goal has been to sell the entire business, including intangible and tangible assets, to achieve a better price, but since the date of the debtor’s report (July 30, 2025), we have seen movable property go “under the hammer,” so to speak. It would be interesting to know at what price Artebone will be sold, if it is sold at all.