Lapland Safaris Group announced that it has bought a majority of shares in Diandoria, the company behind the Rovaniemi-based Santa Claus Office, saving the company from bankruptcy.
Last week a district court declared Dianordia bankrupt due to an outstanding tax debt of 206,000 euros.
In May, the Finnish Tax Administration had threatened the company with the move unless it paid up. With no payment forthcoming, tax officials launched the bankruptcy process at the end of July.
Dianordia has now paid the back taxes and the company's bankruptcy status was removed.
"With this acquisition we want to make sure that the tale of Christmas and Santa Claus continues, evolves and lives well in the Santa Claus Village in the future," Jyrki Niva, the CEO of Lapland Safaris Group said in a statement.
Bankruptcy made world headlines
The news that the Santa Claus Office was bankrupt and going out of business made international headlines last week.
Santa Claus Office is the oldest of three Rovaniemi companies offering tourists a chance to meet and pose for a photo. The tourist attraction draws 300,000 visitors every year, and has hosted dignitaries like Chinese President Xi Jinping and President of India Pranab Mukherjee.
But business in Finnish Lapland has suffered a recent decline, particularly with Russian tourists.