The multibrand fashion chain Another Nest has put its five Skåne stores out of business – less than a year after the premiere of the chain.
“The reason is poor profitability and declining sales at the locations, said bankruptcy trustee Ola Sellert on Trägårdh law firm.
The application was received by the District Court in Malmö and Lund on Monday.
In total, according to 8till5.se, it is three bankrupt companies. Bjärred-based Another Nest AB and Kids and Friends Triangeln AB and Lund Registered The Uniform i Lund AB.
Just a month ago opened a store in Täby, north of Stockholm and it should not be involved in the bankruptcy.
“Despite the hard work and contributions of capital from our main shareholder, the Board believes that the business in its current form can not be saved. It is therefore with great sadness that we have taken the decision to instead file for bankruptcy. ” writes the company’s board in an email telling Another Nest AB filed a bankruptcy petition to the district court.
In March, the company dropped Marja Olander as president, instead Per Holknekt, previously director of Another Nest, was set to take on the role.
Another Nest has had four stores in Skåne-region. At Trianglen in Malmö, Nova Lund in Lund, in Borgeby and Kristianstad. Previously, there was also a store in Staffanstorp.
The shop in Trianglen is closed while the other three will remain open for the sale of the remaining goods.
”Right now I need to see how much clothing is left, then I will be sure to close the operation,” says Ola Sellert to 8till5.se.
When the chain started, the company wrote that “Sweden has been drained on strong nationwide multi-brand chains for established brands, and right now is the best time to fill the gap. There are significant growth opportunities in the target group of families in the market for a new, unique and unexpected concept. “