The board of directors of the home alarm company Sensor Alarm has decided to declare the company bankrupt. An application will be submitted to the Stockholm District Court.

The reason behind the decision is that the company has not managed to arrange financing in the short term.

"In the longer term, there is value in the company's products and opportunities in different segments in different markets," it said in a press release.

Sensor Alarm has been working for over a year to restructure its organization. Due to the difficult market situation, the measures have not yet reached their full effect, according to the board.

"It is with great sadness that we have to conclude that it is unfortunately not possible to continue the company's operations," says board member Martin Norsebäck.

"The reversal of Norrlands online, which dropped out of the reverse acquisition hours before the general meeting this summer, really put Sensor Alarm in a difficult situation that has been impossible to parry in the short term," Norsebäck continues.

The share has fallen by just over 70 percent during the year.