Danske Bank is the sole creditor, with corporate mortgages totaling DKK 172 million (€23m), in the former Obi Sport, which once owned Intersport Denmark.
Obi Sport, which sold Danish Intersport to Swedish Intersport in May, has gone bankrupt.
Of the merged Intserport’s total sales of SEK 3.5 billion (€0.31bn), Swedish operations were reported to account for approximately SEK 2.5 billion (€0.22bn).
Danish seller Obi Sport had already changed its business strategy in 2023 to reverse its negative financial development, closing down its The Athletes Foot stores in Denmark and one store in Sweden. It also sought to reduce inventory and debt. However, the new strategy and sales push came too late.
According to bankruptcy documents, the company has a debt of DKK 154 million (€20.6m), reports Danish Retailnews, which also writes that a single creditor looks set to take the financial hit from Obi Sport’s bankruptcy.
This is because a large part of the revenue is subject to a lien. Danske Bank is the sole creditor, with corporate mortgages totaling DKK 172 million (€23m) in the former Obi Sport. The bank also has unsecured claims – so-called §97 claims – of more than DKK 194 million (€26m), which cannot be covered by the remaining DKK 20 million (€2.7m), according to the preliminary accounts.
