Buttericks describes itself as "one of Sweden's oldest retail companies" and opened on Drottninggatan in Stockholm in 1903. However, during the coronavirus pandemic, sales decreased sharply, something that Buttericks has not recovered from.
On December 17 last year, the company therefore applied for a reconstruction to save the business. However, the Tax Authority has opposed the reconstruction, and therefore "there are no conditions to continue operating in its current form," it says in a press release.
"During the reconstruction, we have received enormous support from suppliers, creditors, employees, and customers. Therefore, it is with great frustration and a heavy heart that we have been forced to file for bankruptcy today. We would have liked to continue taking responsibility for the business, jobs, and debts, but without the authorities' support, only bankruptcy remains. We hope that there are conditions to find a buyer for the business so that the brand can survive and employees can keep their jobs," says Buttericks' CEO Therese Carlsson.
Buttericks has stores in Malmö, Gothenburg, Stockholm, Halmstad, Jönköping, and Lund.
