With over 40 years of history in the Finnish and international skiing business, one of Finland’s best-selling and traditional wax brands and a brand every skier knows is now filing for bankruptcy.

The traditional brand involved in the Finnish skiing world for over 40 years is now filing for bankruptcy. The Hollola-based ski wax manufacturer Startex has submitted a bankruptcy application to the Päijät-Häme District Court.

Startex’s most well-known brand is Start wax, as well as Start poles and roller skis. According to Kauppalehti, the company’s CEO Hanna Salmi states that the company’s capital has been in the negative for a long time. The reason is mild winters, which have shrunk the market.

“The export to previously major export countries has disappeared due to the conditions, and we haven’t been able to compensate for it with domestic sales. In addition, the general economic situation significantly impacts companies in the sporting goods industry,” Salmi tells Kauppalehti.

She hopes that the traditional brand will find a new home in other hands.

Startex is a company founded by Salmi’s parents, and its range includes, in addition to waxes, roller skis and skiing and walking poles.

In the fiscal year ending in April 2023, the company had financial debts amounting to 1.6 million euros. The company does not have any payment defaults. According to Kauppalehti’s analyst, the company’s turnover for the fiscal year was between 1.6 and 1.8 million euros, with a loss of around 240,000 euros. The company had 15 employees.

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