The Dutch home furnishings online store fonQ appears to be on the verge of collapse. Its parent company has filed for bankruptcy protection, but it is no longer possible to complete purchases on the website, and the customer service center is also unresponsive.
Failed restructuring
The holding company behind fonQ and Naduvi filed for a stay of payments last Monday. An administrator will now investigate how the company can continue operations. Last summer, CEO Itai Gross stepped down, after which a new management team took charge of the restructuring. According to a spokesperson, “significant steps have been taken to strengthen the organization,” but more time and investment are needed to become structurally profitable.
