Recession hits Santa, who is getting a new landlord
Mar 26th 2009 2:00PM
Updated Mar 26th 2009 7:56AM
At least the recession isn't forcing Santa Claus to move. He's only getting a new landlord.
The nation of Finland is selling its stake in Santapark, home to Father Christmas, after being hit hard in the global recession and facing a sharp economic contraction this year, according to a Reuters story.
Santa's Holding Oy will buy the 32% stake from Finland. Local investors also own shares in the park, which has struggled financially since opening in 1998.
The Reuters story reported that Finland expected a 5% drop in the economy this year, and a contraction of 1.4% in 2010, with growth expected to return in 2011.