A Danish furniture upholsterer, which declared bankruptcy in April, has been acquired by 29-year-old Mads Kramer Sørensen. Sørensen, who already owns Boatfloor.dk in Ikast, intends to integrate the business into his marine flooring company by adding canopies and cushions for boats.
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The acquisition includes the Møbelpolstrer and Kalechesmeden's property and inventory, which were key motivators for the purchase. 'We may need more employees, because the order book is already well filled,' said Ib Kramer Sørensen, speaking on behalf of his son. Plans are underway to rename and expand the company's offerings.
The previous bankruptcy was initiated by an employee, and six workers were left unpaid as of 1 April. The Employees' Guarantee Fund is expected to cover approximately DKK 500,000 in outstanding wages. Trustee Lars Bentsen noted that multiple offers were considered, but Sørensen's was chosen as the most favourable for creditors, who mainly comprise former staff.
This acquisition signals a potential revival for the business, now poised to benefit from the synergies within the marine sector.
Source: www.wood-supply.dk