GN

"Normally, even a composition would have meant the end of the line, as it is rare for a brand to survive such a cold shower without receiving negative feedback from consumers. However, that did not happen for the Molde company. The demand for Frank Shorter apparel just continued to rise, and orders poured in. Bjørn Rune Gjelsten felt the optimism returning. It was like in the ski tracks – when he felt it was going well, the energy came by itself. It was a hectic spring. The owners signed contracts with local agents in the United Kingdom, Germany, Switzerland, Denmark, and the Netherlands. In Norway, they entered the Intersport chain with both summer and winter clothing. Just a few days after the creditors forgave the debt, GN was ahead of its budget. Now everything indicated that they would manage sales of six million kroner in 1984, they concluded at the end of April. There was much better order within the ranks internally as well. The experienced bankruptcy attorney and Reksten-hunter Jens Kristian Thune took over as chairman of the board, and he taught the newly graduated sprouts a trick, namely to have export orders guaranteed through the Guarantee Institute for Export Credits (GIEK). They were not going to take any more hits."

"For Gjelsten, it was especially pleasing that he could revive his father's old workplace, Tomren Factories, which, like much of the Norwegian textile industry, collapsed in the late 70's. GN bought an 80 percent stake in the successor, Tomra Konfeksjon AS, an initiative that was doomed by the local Labor Party newspaper, Romsdal Folkeblad. This had to be a fiasco, the newspaper stated. "In retrospect, it is interesting to note that the factory at least outlived the newspaper," Gjelsten says ironically."