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🇳🇴 Norway /Economy & Trade

Fretex faces financial crisis and closes stores

From Aftenposten · () Norwegian

Translated from Norwegian and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources Ongoing story
  • Fretex Miljø, which promotes secondhand clothing through 30 stores in Norway, says it faces a difficult market and a worsening financial position.
  • The company has already closed stores in Haugesund, Skien and Strømmen.
  • Fretex Miljø lost just over 40 million kroner in 2024, recorded an almost break-even result last year and has negative equity of 26 million kroner.

Fretex Miljø is closing stores as the secondhand clothing company struggles with a worsening financial crisis. The organization operates 30 stores across Norway and aims to encourage people to buy more used clothing.

The stores in Haugesund, Skien and Strømmen have already shut. The company’s managing director, Trond Ivar Vestre, told Aftenbladet that last year was difficult and that the first half of 2026 had been even tougher.

“We are in a challenging position and the market is brutally tough,” Vestre said.

Fretex Miljø lost slightly more than 40 million kroner in 2024. Last year, it posted a result close to zero, but its equity now stands at minus 26 million kroner.

Last year was difficult and the first half of 2026 has been even tougher. We are in a challenging position and the market is brutally tough.

· Trond Ivar VestreFretex Miljø’s managing director described the company’s financial situation and market conditions.
About this summary

Originally published by Aftenposten in Norwegian. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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