One of Denmark's largest independent furniture retailers, has filed for bankruptcy, marking the end of its 60-year history in Brenderup, Fyn. The family-owned business has been struggling with financial difficulties, recently reporting a loss of over 18 million DKK. Last week there were already suspicions the company, Bolighuset Werenberg, would close following the closure of its webshop and Facebook page.
Photo: Dreamstime.
Owner Torben Werenberg attributed the collapse to the ongoing economic crisis and a failed digital transition. Despite efforts to restructure, the company faced another year of heavy losses, forcing the decision to close. Werenberg expressed deep regret, especially toward customers who prepaid for goods, which will now not be delivered.
Werenberg had debts of 23 million DKK at the end of its fiscal year, with equity reduced to just 1.2 million DKK, a drastic drop from 20.6 million DKK the previous year.
Source: www.wood-supply.dk