The online home furnishings retailer Fonq has been officially declared bankrupt by the court, as confirmed by the company’s trustees on Friday. The administrators are currently investigating whether a restart is possible for Fonq or its associated brands, such as the home decor store Naduvi. This collapse has left approximately one hundred employees facing an uncertain future as they wait to hear if their jobs can be saved.
The bankruptcy follows a period of financial instability, with the company having been granted a suspension of payments earlier this month. Despite a new management team implementing various improvements over the past year, Fonq struggled to achieve structural profitability. Ultimately, the business required further investment that it was unable to secure, leading to its current insolvency.
The administrators have stated that they are exploring several scenarios to preserve the company’s activities and protect employment, though they have declined to provide specific details at this stage. They are now calling for any interested parties to come forward with potential rescue offers. While the Fonq and Naduvi websites remain online for the time being, the checkout functions have been disabled and payments can no longer be processed.
@anp | NEWS BRAINPORT
