Feb 18 • 08:54 UTC 🇫🇮 Finland Ilta-Sanomat

Voglia has gone bankrupt

Voglia Oy, a Finnish women's clothing retailer, has filed for bankruptcy as of February 18th.

Voglia Oy, a Finnish women's fashion retailer based in Hämeenlinna, has officially filed for bankruptcy on February 18th in the Kanta-Häme District Court. Known for its women's clothing, the company has ceased operations, and its online store has been closed indefinitely. This marks a significant turn for the business, which has been a part of the local community since its establishment in 1983.

The company was founded by the Virtanen family in Lammi, and this family-run brand has seen its management passed down through three generations, with Katriina Virtanen serving as CEO since 2019. The brand was originally established by her grandfather, reflecting a long tradition in Finnish fashion. Voglia gained recognition in the industry, notably being awarded the Kultainen vaatepuu (Golden Hanger) in 2005, symbolizing its success in local retail.

The closure of Voglia raises concerns about the current state of small and family-owned businesses in Finland, particularly as it highlights the challenges faced in the retail sector. With the bankruptcy announcement coming amid broader economic conditions, it will be interesting to observe how such changes affect the local market and whether other retailers may face similar challenges in the future. This news continues to attract attention from media outlets, including Yle, which had previously reported on the situation.

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