”No one wants a Fona with so many shops”

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It looks like the Danish electronics chain Fona will be closing even more stores than previously thought. According to the curator, Ole Borch, only eight out of 56 stores will stay open after the recounstruction due to disagreements on the recapitilzation.

“We must note that the plan was too ambitious. No one wants a Fona with so many shops. Therefore, we now aim towards that only eight stores will be continued, ” says Ole Borch to Finans.dk.

Seven of them are located in the Copenhagen area, while the last one is located in Aalborg.

The eight stores that are allowed to survive, is located at Trianglen, Klampenborgvej, Strøget Fisketorvet, Frederiksberg, Lyngby Storcenter, Rødovre Centrum and Aalborg Nytorv

The massive cut means that additional 280 Fona employees who are not affiliated with the last eight shops, are dismissed. Over 300 employees has already received a dismissal notice.

Ole Borch stresses that the solution with only eight stores is not final, but the most likely one.

“If it proves possible to operate several stores, denunciations are withdrawn,” says Ole Borch to finans.dk.

Fona went officially in reconstruction February 1st.

The two owners have been unable to agree to recapitalize the ailing retail chain. Therefore, it is crucial to find a new co-owner.

Ole Borch has previously announced that Fona is in “serious negotiations” with potential buyers who have both insight and money. But the new decision is due to problems finding fresh money for the chain. The current owners, The Kjaer family and Dixons/Elkjøp, has not come to an agreement.

Part of the work is now to find new tenants to the stores that close.