A Danish Furniture Manufacturer known for its innovative digital approach, has entered into reconstruction after years of financial losses. Despite securing several large contracts and investments in recent years, the company has consistently struggled to turn a profit.
In 2023, the company, Stykka posted a significant loss of 15 million DKK, with negative equity of 8 million DKK. Founded in 2019, the company specialises in kitchen and bedroom furniture.
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Although Stykka has received recognition for its work, including a prestigious initiative award, its financial performance has remained poor. As a result, the company initiated a reconstruction process on November 5, 2024, as registered in the Danish Central Business Register. This process could involve selling parts of the business or negotiating with creditors to reduce or postpone debt repayments.
The company's leadership had acknowledged in August 2024 that it faced serious financial uncertainty, warning that the company's future viability would depend on securing agreements with a major player in the kitchen industry. Stykka had been in talks with several potential partners, with the aim of securing liquidity for 2024.
In efforts to restore financial stability, Stykka spent much of 2024 divesting activities to improve liquidity. Despite these efforts, Stykka's future remains uncertain as it works to navigate through this challenging phase.
Source: www.wood-supply.dk