diff --git a/addons/stock/models/res_company.py b/addons/stock/models/res_company.py
index 2766272b554..a219958b545 100644
--- a/addons/stock/models/res_company.py
+++ b/addons/stock/models/res_company.py
@@ -80,8 +80,8 @@ class Company(models.Model):
             })
 
     def _create_scrap_location(self):
+        parent_location = self.env.ref('stock.stock_location_locations_virtual', raise_if_not_found=False)
         for company in self:
-            parent_location = self.env.ref('stock.stock_location_locations_virtual', raise_if_not_found=False)
             scrap_location = self.env['stock.location'].create({
                 'name': 'Scrap',
                 'usage': 'inventory',