The administrator in the Onoff bankruptcy proceedings, Lars Eric Gustafsson from the legal firm Hamilton, has completed another sale from the estate in bankruptcy. The company’s Estonian subsidiary, Onoff Eesti, with six shops, has been sold to the Estonian company Baltic Retail.
In connection with the sale, Baltic Retail also concluded a franchise agreement with the Swedish company Telecall, which owns the Onoff brand. It is Telecall’s intention to work with Baltic Retail to expand Onoff in the Baltic region.
“Instead of closing down operations in Estonia when bankruptcy was declared this summer, we decided to continue to run the Estonian business until we could conclude a sale on favourable terms,” says Lars Eric Gustafsson. “This is what we’ve now succeeded in achieving, having been able to sell the company in full. It’s particularly pleasing that we’ve also been able to contribute to a solution that means that the Onoff brand will live on in Estonia.”
For the seller: administrator in bankruptcy, solicitor Lars Eric Gustafsson,
mobile: +46 708-39 61 36
For the buyer: Dennis Jansén, Country Manager
mobile: +372 530 288 99