A Danish furniture retailer, is set to permanently close all 23 of its stores following significant financial losses. Founder Jan Hallas confirmed that the closures will be completed by 31 May 2025. The decision follows two years of financial struggles, with the company recording a total loss of nearly DKK 50 million.
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Originally, there were discussions about continuing operations with a reduced number of stores for the retailer, My Home , particularly those with longer lease terms. This would have allowed some employees to retain their jobs. However, those plans have now been abandoned, and the company has opted for a full closure.
Despite the shutdown, the My Home brand will continue in a new form. The company has sold its trademark and domain to Furniture1, a European furniture retailer based in Lithuania. The brand will now operate exclusively as an online store.
Pijus Makarevicius, CEO of Furniture1, expressed enthusiasm about integrating My Home into the company's portfolio. 'We are excited to bring My Home into the Furniture1 family and continue with My Home online,' he stated. He emphasised that My Home has long been a well-known brand in Denmark and that Furniture1 aims to maintain its reputation while offering an expanded product range and a seamless online shopping experience.
The Danish unit of Furniture1 will manage operations locally, with support from regional delivery partners.
Source: www.wood-supply.dk