A Danish housing retailer that went bankrupt in October is now selling its remaining stock at a significant discount to repay creditors.
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The Werenberg housing estate declared bankruptcy in October with substantial debt, requiring significant funds to settle outstanding amounts owed to creditors.
Initially, efforts were made to sell the entire inventory—valued at 19.5 million DKK—to a single buyer, but bids received were too low.
Trustee Morten Elbrønd stated that a direct sale to private customers has been chosen instead to secure a better price. The furniture will be available at a minimum of 50 percent below retail value, with additional sales planned if demand remains high.
The company, which had debts totalling 41.6 million DKK, cited financial struggles and an unsuccessful digital transformation as key reasons for its collapse. Founded in 1964 and family-run for decades, it was facing continued losses when the decision to file for bankruptcy was made.
Source: www.wood-supply.dk