BYPORTEN SHOPPING, OSLO (NETAVISEN): – Of course it's sad. I've shopped here since I was a kid. Unfortunately, we went bankrupt two or three times before, but now it's really over, says Teknikmagasinet's store manager, Zahra Kandil, to Nettavisen on Wednesday.
At the beginning of January, Teknikmagasinet was declared bankrupt. The Swedish chain, which was founded in Norway in 2005 and has 25 stores and about 150 employees, has now begun the liquidation process with sales halted.
Debt growth is declining in all sectors except one
“You have to hurry, there are really good prices,” customer Fadi Al-Kawas says over the phone to one of his colleagues.
He explains that he's not a regular customer of the chain, but he thinks the show is great.
– Even if it's not good for the store, it's good for us. “The prices of everything have gone up, and I don't think I'm the only one who thinks it's good to have a small supply,” he says.
Bankrupt: sells everything in a week
– Pulled from the shelves
Hans Peter Piaroy, known as the “King of Bankruptcy”, through his company, Piaroy Handel, has purchased the bankruptcy estate of the electronics chain Teknikmagasinet.
Evergrande Bankruptcy: 3000 Billion Debt
However, this is not the first time Teknikmagasinet has had bad luck. In 2020, the last electronics chain went bankrupt and was bailed out by the Swedish Ambia Trading Group at the last minute. In the same year, the chain was sold to Matera Retail Group in December.
Many Teknikmagasinet stores have already closed their doors, but the vast majority remain open throughout the week, according to Qandil.
A sharp increase in bankruptcies
Goods are sent from closed stores to those that remain open.
– There was a huge chaos in removing the goods from the shelves, and I hope that the goods will reach us soon. And with everything at 70 percent off, many customers will be shopping at the same time, she tells Netavisen.
She explains that they have to start shifts early to replenish merchandise before customers arrive.
– It turned out immeasurably badly
Spent thousands – saved thousands
Shortly after, Customer Moin Bakr comes to the storage room in several rounds and delivers the goods.
– How much does that cost?
– After the discount, it will be 60 Norwegian kroner, Qandil replies.
Byggegiant opens five new warehouses
Headphones, chargers, stress balls and some covers later, the total comes to NOK 6,400. Divided into six bags full of merchandise.
-I bought a lot for my kids and a good deal for myself. I had to pay about 20,000 NOK. I saved 14,000 Norwegian kroner,” he says, laughing.
“Explorer. Unapologetic entrepreneur. Alcohol fanatic. Certified writer. Wannabe tv evangelist. Twitter fanatic. Student. Web scholar. Travel buff.”