Comeback for furniture chain Biva

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The discount furniture company Biva, which went bankrupt in 2013, has been revived by two former employees.
Jesper Jørgensen and Rune Lenn Furbo, which has set the new Biva project in the lake, are former store managers in the business.

“As employees, we have witnessed both good and bad times in Biva. It was hard to see the business close because there was still good stuff to build on – and we are thrilled to have the chance now”, says Bivas new director, Jesper Jørgensen in an interview with danish TV2.

But the furniture store will not be restructured to its old form, he says.
“The time for the big, heavy, interior houses is over. The future is online. Therefore, we introduce the new Biva as an online shop, he said.

The company, which was founded by Henry Johansen in 1983, was sold to private equity in 2006 of 560 million DKK.
The furniture chain was again sold in 2008, when it was lagging with the store profit.
57 stores and 350 employees were then taken over by the Icelandic investment bank Straumur, however it did not succeed in saving the company.
Not even an acquisition of Tæppeland could correct the red numbers on the bottom line, and both companies went bankrupt.
Biva ended up having a deficit of 140 million DKK, while Tæppeland had been in deficit since 2008.