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February 15, 2018

Insolvent Tvilum sold to Danish investor group

Insolvent Tvilum sold to Danish investor group

Tvilum filed for bankruptcy on the 2nd of February and ceased production on its plants in Farvang and Kjellerup, Denmark. One of the largest global RTA furniture manufacturers has already organized talks with potential buyers.

The appointed curators held talks with several potential buyers reaching an agreement with a group of local Danish investors consisting of the furniture company Viking Trading, current Tvilum CEO Torben Porsholdt and the Kristiansen family (the company founders). The investors, which have taken over the ready to assemble furniture manufacturer, have agreed no to disclose the purchase price, Notifix reported.

The future investors would buy the locations in Farvang and Kjellerup and would also have the option of acquiring the Tvilum subsidiary in Szczecinek, Poland. Torben Porsholdt will continue to lead the company as CEO, he had joined Tvilum about two months ago succeeding Andrew Long.

In 2016 Tvilum reported sales of DKK 1.26 billion (USD 207 million).

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