The news broke on friday 21.8 that the Chamber of Santa Claus in Rovaniemi, Finland was filed for bankruptcy by the finnish tax administration.

Santa who lives in Korvatunturi, Finland, could not be contacted for comments about the bankruptcy of “The Santa Claus office” where Santa “meet friends from around the world”.

The locals whisper that the case against Santa derives from unpaid gift taxes. Yet at this time, it’s unknown how the upcoming holiday season, which is about 120 days away, will effect the mood of the tax officials.

Here is Santa’s greeting before the tax problems: