Fona will have a new ownership

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Danish electronics Chain Fona passed the first threat of bankruptcy, operations will go on during the reconstruction.

Bankruptcy court in Copenhagen said all of the chain’s creditors have accepted the plan.

But Fona will have a new owner constellation, the two owners, Kjaer-family (60%) and Elkjøp Nordic (40%), have been unable to agree to recapitalize .

At the same time stores will be shut and employees fired. The electronics center will be sold off.

Fonas creditors accepted further work on the plan for reconstruction, which was presented last week.

After the plan, creditors with Nordea as the biggest player will get a 88 percent deal.

Reconstruction lawyers Ole Borch and Pernille Bigaard also indicated that they lead “real negotiations” with two potential buyers.

Question is who would be interested in a citychain with a weakening development as there is a price war going on online and among the big box-players.

There are possible players very close. Elkjøp Nordic has already launched a city concept for multichannel purposes in Sweden and Norway and might find it interesting to set up the same deal in Denmark to win the battle against Expert. They’ve previously had an option to buy the remaining shares of Fona, and is today the main distributor. Also, Euronics has announced expansion in Denmark.