A surprising turn in Askos and Sotka: stores filled with discounted goods
Furniture chains Askon and Sotka in Finland are restocking stores with new discounted items following recent bankruptcy sales, contrary to expectations of a closing down.
The furniture chains Askon and Sotka have recently been undergoing rapid clearance sales as part of their bankruptcy proceedings. Surprisingly, instead of winding down, they are restocking stores with a significant amount of new discounted merchandise, revealing a strategic pivot by the estate administrator, Tuomas Penttilä. As he indicates, several stores in larger cities will soon witness a final surge in sales before some begin to close this coming weekend.
Penttilä has communicated that the central warehouse of the chains is substantial and that the logistics chain was recently brought up to speed in order to facilitate the continued supply of inventory to the stores. With plans to fill stores with new items by the weekend, he expresses hopes for increased customer traffic and sales activity, aiming for a lively checkout scenario with multiple transactions. This move suggests a determination not only to recover debts through aggressive liquidation but also to optimize the remaining assets effectively.
Despite the backdrop of bankruptcy, there remains a positive outlook with reports of up to a 50% discount on goods, and there are indications that larger discounts may follow. The estate administrator's aim is a rapid and efficient realization of assets, which means potential bargain opportunities for shoppers in the months leading to possible extended store operations into April. This development signals a rare twist in the aftermath of retail bankruptcy, as companies attempt to leverage last-minute sales before final closures, providing both a lifeline for the business and savings for consumers.