Norwegian Plumbing Firm HR Rør Files for Bankruptcy Amidst Construction Crisis

Oslo, Norway – HR Rør AS, a significant provider of plumbing and technical installations in the Oslo region, declared bankruptcy on Wednesday, citing a debt of 31 million Norwegian kroner (approximately $2.8 million USD as of March 13, 2026). The collapse of the company leaves approximately 40 employees jobless and underscores the growing challenges facing the Norwegian construction industry.

Rapid Growth Followed by Financial Strain

Established in 2013, HR Rør experienced substantial growth, increasing its revenue from just over 25 million NOK in 2013 to over 217 million NOK in 2020 . Still, recent financial performance has been significantly weaker. Revenue fell to approximately 90 million NOK in 2021-2022, before rising again to over 200 million NOK in 2023 and then plummeting to nearly 110 million NOK in 2024 . The company reported a loss of almost 37 million NOK in 2024, resulting in negative equity of over 29 million NOK .

Prestigious Projects and Industry Impact

HR Rør has been involved in several high-profile projects in the Oslo area, including Campus Ullevål, the Clemenskvartalet in Bjørvika, and the PwC building in Bjørvika . The company also operated a subsidiary, HR Sprinkler, specializing in sprinkler systems . The bankruptcy of HR Rør is indicative of a broader crisis in the Norwegian construction sector, characterized by high interest rates and declining demand.

Legal Proceedings and Future Outlook

Ellen Schult Ulriksen of the law firm Haavind has been appointed as the administrator for the bankruptcy proceedings . Ulriksen stated that her firm is working to assess the situation and explore potential options for continuing the business. HR Rør’s former auditor, BDO, resigned on December 9, 2024 . The company was also notified of compulsory dissolution on February 11, 2026 .

Broader Trends in the Norwegian Construction Industry

The bankruptcy of HR Rør is part of a larger trend of financial difficulties within the Norwegian construction industry. Several other construction companies have recently faced bankruptcy, and sales of fresh homes have fallen sharply . The industry is grappling with increased costs, lower demand, and rising interest rates.

Clemenskvartalet Project Details

HR Rør was contracted for the plumbing operate on the Clemenskvartalet project, located in Bispevika Syd, Oslo. The project consists of eight buildings of varying heights surrounding a central courtyard, featuring commercial spaces on the lower floors and residential units above . The contract value for HR Rør’s work on the Clemenskvartalet was 15 million NOK, with Vedal Entreprenør AS serving as the general contractor . The project has a gross area of 6,000 square meters and was certified to BREEAM-NOR Remarkably Good standards, with completion in the fourth quarter of 2023 .