A popular furniture retailer goes bankrupt
The insolvency of German furniture retailer Who’s Perfect forced him to take decisive action.
Who’s Perfect is a German seller of Italian furniture, which has been successfully operating not only on the domestic market for nearly thirty years, but also in: Austria, the Netherlands, Belgium, Luxembourg, the Czech Republic and Switzerland. Now, however, he announced that the growing problems with maintaining financial liquidity forced him to declare bankruptcy. And the current difficult financial situation was caused by: rising inflation, falling demand and misguided decisions related to the company’s development. As a consequence, the existing 14 stores located in various German cities are to be systematically closed.
It is worth adding that the problems of the German furniture sector are shared by their Polish counterparts. Well, the Polish furniture industry is also struggling with similar difficulties.