The Amsterdam-based furniture store FEST, which has its headquarters and two branches in the city, was recently declared bankrupt. The parent company, Mena Exploitatie B.V., which operates under the name FEST and FEST Amsterdam, was declared bankrupt by the Amsterdam court. The company, founded by Femke Furnée in 2013, experienced rapid growth, with a total of seven branches in the Netherlands and Belgium. Despite its popularity and strong brand, the current challenging times in the retail sector proved fatal for FEST.
However, it's revealed that one store in Amsterdam will close, however the store in Amsterdam-West is expected to remain open. Trustee Ernst-Jan Beerdsen reports that a relaunch for this store, along with the online shop, is nearly finalised. In addition to the stores in Amsterdam, FEST also has branches in Utrecht, Rotterdam, Antwerp, Ghent, and Brussels. These branches are not affected by the bankruptcy and will continue to operate.
Trustee Beerdsen is still investigating the cause of the bankruptcy and the possibilities for a relaunch. The company may be taken over by a party related to the current owner, although the identity of this party has not yet been disclosed. Beerdsen has confirmed that they intend to fulfil ongoing orders, meaning customers will still receive their ordered furniture.
About FEST
Femke Furnée founded FEST with just three thousand euros of savings and without any experience in the furniture industry. The idea arose when she wanted to furnish her own apartment and noticed a lack of affordable designer furniture. FEST positioned itself in the gap between mass-produced furniture from large retailers and expensive high-end design brands, focusing on offering affordable, stylish furniture.
The company distinguished itself by sourcing furniture primarily from Europe and employing an omnichannel strategy, using both physical stores and an online shop to reach customers. FEST served both the private and business markets and was represented through about 100 sales points in dozens of countries.
For more information:
FEST Amsterdam
www.festamsterdam.com