Significant amount of bids for bankrupt consumer electronic dealer Onoff


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Saturday, 16 July 2011
Several bids have come in for the bankrupt consumer electronics chain Onoff. But not all creditors will get paid after the bankruptcy process is complete.

Reports from various Swedish media sources point that interest to take over most of the operations of the consumer electronic outlets has increased.


"We have had talks with between five and ten buyers. It is a highly organic process and we have already received some bids,” said bankruptcy trustee Lars Eric Gustafsson, reports various Swedish news outlets.

According to him, the debts of the company is not as great as at the period 2010/2011, when the debt was about Skr800 million.

The products that the company has in stock is worth about Skr275 million, according to him. The total assets will not be sufficient to pay all debts.
“We’ll give priority to claims by the Bank and employees. Money left over after that, which likely will not be there would likely not be enough to pay all,” he said.
By Team

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