During the COVID-19 pandemic, Denmark issued aid packages totalling approximately DKK 56 billion to support businesses and employees. Recently, the Danish Business Authority has requested that DKK 4.9 billion be repaid by 60,000 companies that received excess compensation.
Among these, furniture manufacturer Tvilum must repay DKK 18.5 million, the second-largest amount after Copenhagen Airport, which owes DKK 41 million.
Photo: Dreamstime.
Tvilum, which has over 600 employees, received more compensation than entitled after sending employees home during the pandemic. However, demand for furniture surged as people were home, leading the company to recall workers sooner than expected. This early recall is the reason for the repayment. Tvilum has already made two of the four required repayments.
The Danish Business Authority's repayment scheme allows companies to settle their debts in four interest-free instalments.
Source: www.wood-supply.dk