A prominent Danish furniture retailer suffered a DKK 28.3 million loss in 2024 following the costly closure of its store network. The latest annual report attributes the deficit to store shutdowns, non-cancellable leases, and asset write-downs.
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The company, My Home Møbler , which founder Jan Hallas repurchased in 2023 for one krone, also posted a DKK 15.6 million loss that year. The 2024 result was negatively impacted by DKK 22.9 million in costs, including DKK 5.1 million in rent, DKK 3.9 million in depreciation, and inventory write-downs of DKK 1.5 million. A DKK 11.4 million tax asset also contributed to the poor result.
Hallas initially opposed the downsizing strategy of the previous owner, Sweden's BHG Group, which reduced the store count from 36 to 22. However, after failing to revive the chain, Hallas admitted the furniture sector's crisis was "deeper and longer" than expected and chose full closure to honour outstanding debts.
The brand and domain were sold to Lithuania's Furniture1 in early 2025. Only one physical store in Randers remains open. The company now expects a "significantly smaller deficit" in the current year amid reduced operational activity.
Source: www.wood-supply.dk
