Indoor Group, the parent company of Finland's largest furniture chains, Asko and Sotka, has filed for bankruptcy following a serious financial crisis. Both chains have been forced to close their stores, revealing a troubling financial situation marked by over 55 million euros in debt. This crisis has not only impacted Asko and Sotka, but also other entities under the same corporate umbrella, including Insofa, which has also declared bankruptcy on the same day.

The scale of Indoor Group's financial distress is evident from its bankruptcy filing, which highlights a stark contrast between its liabilities and assets. The company possesses only about 400,000 euros in assets against staggering debts, with its inventory valued at just over 18 million euros. Among its creditors, Insofa, known as Askon Sohvatehdas, stands out with claims exceeding 19 million euros, followed by Nordea Bank and bedding manufacturer Hilding Anders. Notably, public institutions like the Tax Administration are also among the company's top creditors.

This bankruptcy filing signals a considerable downturn for the Finnish furniture retail sector, especially amidst broader economic challenges. Asko and Sotka have long been leading players in this market, and their closure could have significant repercussions for employees and the supply chain. The announcement by Indoor Group indicates a broader trend of instability within the national retail environment, raising concerns about the sustainability of similar enterprises in today's economy.