Ibobil files for bankruptcy with 26 million kroner in debt

The Tromsø-based recreational vehicle dealership Ibobil AS filed for bankruptcy at the Nord-Troms and Senja District Court, leaving 21 employees out of work and carrying 26 million Norwegian kroner in debt, e24.no reported.

Falling Demand and 26 Million Kroner in Debt

The bankruptcy filing comes after years of a contracting recreational vehicle market across Norway and Europe. According to bankruptcy trustee Bjørn August Krane, an attorney and partner at law firm Justitia, the company leaves behind 26 million kroner in liabilities, with all assets currently subject to liens. Krane noted that employees have not received their final month of salary, and the estate will likely abandon the encumbered assets quickly.

Ibobil was established in 2014 and operated under the ownership umbrella of Bobilkjeden Norge AS, with Trondheim-based Arve Opsahl AS acting as the controlling stakeholder. At its operational peak, the dealership employed 31 people and achieved record revenues of 189 million kroner in 2022. By 2025, operating revenues had dropped below 87 million kroner. The firm accumulated pretax losses exceeding 47 million kroner between 2023 and 2025, recording annual deficits of 14 to 16 million kroner while equity remained negative at 1.8 million kroner.

A Wider Industry Retraction Across Northern Norway

Board chairman Stian Ringstad cited a combination of high interest rates, elevated acquisition costs for capital goods, and sharp price pressure on both new and used vehicles as drivers behind the collapse. The closure of Ibobil leaves only a single active recreational vehicle dealer remaining in northern Norway: Lians located at Bardufoss.

The broader Norwegian market has experienced a steep downward trajectory since new registrations peaked at nearly 4,200 units in 2018, according to data from the Opplysningsrådet for Veitrafikken. By 2025, new registrations fell to 1,392 vehicles, marking a more than 10 percent drop from the previous year. Major sector players have similarly struggled; Tellus collapsed in 2024, while Ferda announced corporate restructuring proceedings.

Financial reporting compiled by proff.no indicates that the three largest surviving industry groups—Ferda, Kroken, and Bobilkjeden Norge—accumulated net losses exceeding 243 million kroner between 2022 and 2024. Kroken and Bobilkjeden Norge posted further losses of over 67 million kroner and 15.6 million kroner respectively in 2025.