Tapetorama, the Swedish interior decoration company, has recently declared bankruptcy after two decades of operation. The news, reported by Ehandel.se, marks the end of an era for the renowned e-commerce entity.
Established 20 years ago, Tapetorama has been a familiar name in the online retail scene in Sweden, specialising in wallpaper, fabric and paint. However, the company found itself facing challenges, ultimately leading to the decision to cease operations.
Photo © Ayome Watmough | Dreamstime.com
One of the contributing factors to Tapetorama's downfall was the decline in turnover. The company's reliance on consumer spending, particularly in the realm of home renovations, was impacted by shifting market dynamics. The closure of its physical showroom on Friisgatan in Malmö, which accounted for a significant portion of its sales, further underscored the company's struggle to adapt to evolving consumer trends.
Over the past few fiscal years, the company has witnessed a notable downturn in turnover, plummeting from 22.7 million SEK in 2020/2021 to 17.2 million SEK in the subsequent period. Furthermore, a reported loss of one million SEK for 2021/2022 underscores the financial strain. While the financial outlook for the preceding year remains unclear, the challenges faced by the company in recent times highlight the difficulties of the company.
Source: www.ehandel.se