Business
Bear market? American retailer wiped out in Denmark
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November 28th, 2014
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Build-A-Bear Denmark declares bankruptcy
The Danish arm of the company Build-A-Bear, which gives customers the chance to put together their own teddy bear, has gone bankrupt, Børsen reports.
The company’s Danish website has gone offline and all of its shops, with the exception of the one next to Tivoli, have closed down. At the time of the bankruptcy, the chain had a total of five shops across the country.
Barely survived in 2013
A year and a half ago, the American parent company gave up its activities in Denmark after suffering millions of kroner in losses since starting on Danish shores in 2004. The Danish operation was however saved by John Nyhøj Kristensen, who came in as a new investor and reopened most of the Danish outlets.
“Build-A-Bear is a strong and sustainable brand. It is the experience and the staff’s personal involvement that sell the products. I’m convinced that there is still huge potential in Denmark,” Kristensen told Børsen when he came in as an investor in 2013.
At its height in 2010, the chain had ten shops in Denmark, making it the fourth biggest Build-A-Bear country at that time in terms of the number of retail locations.
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