'Things have not been going well for Tenzo,' Mark van Betten, Tenzo's Managing Director for the Benelux market shares. The management of the Swedish company Tenzo AB has yesterday announced the closure of their Smålandsstenar facility. 'We are not closing, we have made the decision to cease our own production and will continue solely with trading.'
'We have been facing challenges ever since the owner became ill a few years ago, compounded by the effects of the post-Covid period and a lack of strong product development,' explains Mark.
In a letter addressed to customers, suppliers and stakeholders, the company has said: 'At Tenzo, we are proud of our 90-year history of furniture making, which we hold in high regard. Our focus has always been to deliver high-quality furniture that excites your living.'
'We have struggled with profitability issues, low margins, and a deepening recession for some time. Despite numerous efforts, we have not succeeded in improving the company's profitability. It is therefore with great sadness that we have now decided to close our operations, factory and production in Smålandsstenar in a controlled manner. This decision affects Tenzo AB and its subsidiaries.'
They continue: 'We still have a large inventory of high-quality furniture, and we continue to see strong demand for our products in many markets. To quickly improve our liquidity, we are prepared to adjust our prices immediately. Customers will receive more information regarding this. The price increase we previously announced for 2025 is no longer applicable. We will also contact customers and suppliers to review our payment terms.
We are not closing any doors, and in parallel with the closure of the Smålandsstenar facility, we are exploring opportunities to continue some form of business operations.'
More information:
Tenzo AB
[email protected]
www.tenzo.se