The company Netthandelsfabrikken AS has filed for bankruptcy. This is the company that has operated the online store Trendit.no, which was started by former “Luksusfallen” and “Paradise Hotel” participant Thomas Holstad (34).
Holstad stopped running the store when his company, Stayclassy AS, went bankrupt. He is not listed as having any role in Netthandelsfabrikken AS. He is nevertheless still a public face, including in social media.
It is older brother Marius Holstad’s company, Active Label AS, which now owns Trendit, after buying up the bankrupt estate of the younger brother.
– The company that owns Trendit is not bankrupt. I do not run any of the companies, so it would be strange for me to comment on the matter, beyond what is written on the websites, says Thomas Holstad to Børsen.
Holstad itself has been placed under bankruptcy quarantine by the Ringerike, Asker and Bærum district courts. It applies until 27 September 2025. Holstad is nevertheless not refused to continue in his existing position, as there was no previous bankruptcy history. He still runs Holstad Consulting AS, where he is chairman of the board and general manager.
Holstad also refers to his friend Fredrik Kittel-Nielsen, who participated with Holstad in “Luxusfallen”, and was general manager of Netthandelsfabrikken AS.
Opened a new online store after a huge fine
– The company has requested a tender as a result of the operating costs becoming too high when we entered into too heavy leases and agreements, and as a direct consequence of this was unable to comply with its agreement with creditors and the owner of Trendit and their brands. I know with certainty that had it not been for this, Netthandelsfabrikken would have delivered very positive operating results in 2023, he writes in an SMS to Børsen, and wishes the online shop continued success.
Promises continued operation
Trendit mentions the bankruptcy on its website, where it promises continued operation, after “extensive upgrading” and “reorganisation of operations”.
“(…) we unfortunately have to inform you that the former company that operated Trendit.no’s online store in Norway, Netthandelsfabrikken AS, was unable to fulfill its financial obligations towards Active Labels AS, which owns Trendit. This has necessitated changes in operations”.
As mentioned, Active Labels AS is Holstad’s big brother’s company.
Thomas about the breakup, the millions and the bankruptcy
“In connection with these changes, Trendit.no will be temporarily closed due to moving to new premises that will offer greater opportunities for further growth. We look forward to welcoming you back when we reopen on February 15, and we assure you that we will continue to take good care of past customers. Our dedicated team looks forward to continuing to provide good service and give you a positive shopping experience at Trendit.no”.
Got a huge fine
Thomas Holstad has run businesses on several occasions. He was very successful with the online store Stayclassy, which for a period focused on electric scooters, among other things. At most, the company’s turnover was NOK 26.3 million.
Then customer complaints started coming in and “TV 2 helps you” appeared. The Norwegian Consumer Protection Agency signed up, and eventually announced a fine of NOK 1.5 million for incorrect pre-pricing, illegal marketing and complicated complaints.
TAX LIST 2022: Norway’s richest is the 30-year-old salmon heir Gustav Magnar Witzøe, with a fortune of 26.5 billion, but he is not alone in being young and rich. These are Norway’s 35 richest under 35 in 35 seconds. view more
Holstad himself was fined NOK 400,000 by the supervisory authority. This was later adjusted down to 100,000. When Stayclassy went bankrupt, a limit was also set for the monster fine from the Norwegian Consumer Protection Authority.
However, the 34-year-old did not let himself be broken, and started a “splice” to get back on his feet. However, this was stopped by Sparebank 1, which runs the collection service.
It was in January last year that Holstad tried to find new success with Trendit.no, through a name change from Stayclassy AS. Only a week later, however, the company filed for bankruptcy.
Created Spleis: “More people are skeptical”
When the elder brother bought the bankrupt estate, as according to The messenger was at a price of NOK one million, Trendit.no could continue, then with Holstad’s friend as operator.
Stated debt in the millions
– A heavy and painful day
Børsen has been in contact with trustee Bjørnar Hulbak. He states that Thomas Holstad is not listed as having any role in Netthandelsfabrikken AS.
– It is still early in the case, and we are trying to secure values and accounts, as we usually do. In the tender request, approximately one million in debt is stated, he says.
Following publication, Børsen has added the following clarification, to make it clear that Holstad has the opportunity to continue in his existing position:Holstad is not refused to continue in his existing position, as there was no previous bankruptcy history. He still runs Holstad Consulting AS, where he is chairman and general manager.”