Maxbo to close four stores amid market downturn

Maxbo has announced the closure of four of its stores, a decision driven by the prolonged downturn in the construction market. The affected locations are in Trondheim, Dokka, Nesbyen, and Mandal. The company stated that it must adapt its operations to the weaker market conditions. E24 reported the story.

A total of thirty employees work at the four stores slated for closure. It remains uncertain how many of these staff members will lose their jobs as a result of the shutdowns. The company said it is working to support the employees affected by the closures. E24 attempted to contact union representatives but was unable to reach them.

Maxbo currently operates more than sixty building supply stores and employs around 1,600 people. The chain consists of both company-owned stores and franchise outlets. The decision to close the four stores follows several years of cost-cutting measures at the company. In December 2023, Maxbo placed around 100 employees on temporary leave. The following autumn, the company issued new temporary leave notices for up to 60 employees. Both times, the company cited the weak building supply market and the sharp decline in new housing construction as the reasons.

The downturn has continued into 2026. In May, sales of new homes were 22 percent lower than in the same month the previous year, according to figures from the Home Builders Association. This was the lowest May sales figure since monthly measurements began in 2010.