A Hamburg-based furniture studio has filed for insolvency after more than four decades in business. Located in the Barmbek district, the store spans around 1,000 square metres and offers designer and children's furniture, partnering with brands including Team 7, Brühl, Moll, Moizi, Wagner, Varier, Hüsler Nest, Lifetime Kidsrooms, and Hag.
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Thomas Steinkamp, the company, Wohnstudio Steinkamp's, managing director, attributed the insolvency to "the current difficult political and economic situation," noting that the business environment has worsened over recent years. He highlighted that online competition represents the "largest challenge in furniture sales." Despite the insolvency filing, the store remains operational for the time being, and staff continue to be employed.
Steinkamp has long been a popular destination for furniture shoppers in the region, and the announcement marks a significant moment for Hamburg's retail landscape.
Source: www.moebelfertigung.com
