2024 will be a year marred by high inflation and lots of bankruptcies. In February alone, a staggering 908 companies went bankrupt, which is the highest number since 1994. But the gloomy trend turned somewhat when the spring heat arrived.
– No industry escapes, it’s tough everywhere. But the construction industry has been particularly hard hit, said Henrik JacobssonCEO at Creditsafe, to News24 when.
Nyheter24 has collected some of the most famous companies that went to the grave during 2024.
Rydberg’s charcuterie
Since 1895, Ryberg’s charcuterie has been producing sausages and cold meats, but in February 2024 it came to an end. Approximately 20 full-time employees lost their jobs, which had their manufacturing in the Lillesjö industrial area.
READ MORE: Classic sausage giant in bankruptcy after losing millions
Whiskey producer Mackmyra
Whiskey producer Mackmyra went bankrupt in August. This is what they said about the bankruptcy in a press release:
“The reason for the decision to file for bankruptcy is that Mackmyra Swedish Whiskey has not managed to secure sufficient liquid funds to continue operating the business primarily in the short term. In the longer term, there is great value in the company’s products, large maturing warehouses and production facilities.”
Mackmyra whiskey. Photo: Alexander Larsson Vierth/TT
READ MORE: The Swedish whiskey manufacturer files for bankruptcy: “Taking power”
Visby’s oldest shop Ödlin’s engraving
In Visby on Gotland there is the store Ödins tannery, which is known for selling lambskins. The store is Visby’s oldest as it has existed for 172 years. In March, it was announced that the store was going out of business due to high rent, combined with inflation, which has led to consumers not shopping as much.
– I’m too old to rethink and rethink. I had had to change so much to survive, then I feel like I’m throwing in the towel. I had still intended to quit next year when I turn 60, said the owner Eva Lilja to Nyheter24 then.
READ MORE: Popular store forced to close after 172 years: ‘Dismayed’
The shoe chain Rizzo
The famous shoe chain Rizzo closed its doors in April. The company is listed on the stock exchange and had 59 stores and Sweden in Norway and approximately 160 employees.
“It is with great sadness that we unfortunately have to state that it is no longer possible. The company’s management and board have for a long time struggled with both profitability and liquidity and despite the heroic work of both our staff, suppliers and management, it is no longer possible to continue,” wrote the chairman of the board Jonas Blomqvist in a press release at the time.
The shoe chain Rizzo is one of the companies that has gone to the grave during the year. Photo: Christine Olsson/TT
READ MORE: The classic shoe chain goes out of business
The surprise box Glossybox
Glossybox is a company that has been sending out surprise boxes of various make-up and beauty products once a month to its customers.
“Unfortunately, all fun comes to an end and we have to announce today that your June box will be your last. Glossybox is shutting down its operations in the Nordics,” the company wrote in a post on Instagram when the bankruptcy was a fact.
READ MORE: Popular beauty brand in bankruptcy – not paid influencers
Victoria Soap – royal court supplier
Victoria Soap has been a royal court supplier for just over 100 years, but now that’s over. The company has been manufacturing cleaning products such as soap and shampoo since 1905. Unfortunately, they were heavily indebted and therefore went bankrupt in June 2024.
The royal family. Photo: Jonas Ekströmer / TT
READ MORE: Royal court supplier in bankruptcy – after 120 years
The clothing chain Esprit
In June, the clothing chain Esprit was declared bankrupt. Despite international success, the chain has not managed to establish itself in Sweden.
READ MORE: The well-known company goes bankrupt – after difficult years
The Odd Molly clothing chain
The Swedish clothing brand Odd Molly was founded in 2002 by Per Holknekt and has for many years been a great success. But due to heavy losses, the company is now going into the grave.
Per Holknekt founded Odd Molly. Photo: FANNI OLIN DAHL / TT
READ MORE: Swedish clothing giant in bankruptcy
Northvolt An Expansion
Battery giant Northvolt’s subsidiary, Northvolt Ett Expansion, was declared bankrupt in October. The company is one of 20 units in the Northvolt group. As it is a form of development company linked to Northvolt’s expansion plans in Skellefteå, it had no employees.
READ MORE: Northvolt’s subsidiary in bankruptcy
TGI Fridays
The Swedish franchise chain TGI Fridays had long struggled with the economy and in March they were forced into bankruptcy.
“As we feared and warned about, the group could not manage without its flagship in Kungsträdgården,” wrote Albin Rännar, vice president at TGI Fridays, in an email to Fastighetsvärlden then.
READ MORE: Now the American fast food chain is going bankrupt