Wed, 20 Jul, 2016 12:04:44 AM FTimes – STT Report, Jul 20  Anttila's store in Kamppi shopping mall in Helsinki on Tuesday. Photo – Lehtikuva. Department chain store Anttila on Tuesday declared bankruptcy, the company confirmed in a statement.
The Helsinki District Court on Tuesday issued a decision on the company’s bankruptcy. Anttila had filed for bankruptcy at the court earlier on the day.
The company’s statement said despite restructuring measures, the company was unable to obtain further funding for its operations.
Anttila and Kodin1 department stores will remain open as normal. The online stores Anttila.com and Kodin1.com, however, are temporarily closed, but are planned to be open as soon as possible, according to the statement.
Anttila announced that it would initiate codetermination negotiations in June for Kodin1 department stores and focus on developing the Anttila department store chain and e-commerce.
Kesko sold the Anttila chain to the 4K Invest mutual fund in spring last year.
Anttila employs more than 1,000 people.
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