Indoor Group, parent company of Sotka and Asko, files for corporate restructuring – could customers lose their advance payments?

If you've recently paid for a new sofa or dining table at Sotka or Asko and are still waiting for delivery, now is the time to pay close attention. Indoor Group, better known through its Sotka and Asko chains, has filed for corporate restructuring. The news has come like a bolt from the blue, and it's left many people scratching their heads: where does your money actually end up if the company goes under?

What's this all about?

Indoor Group is a major furniture group employing hundreds of people in Finland and Estonia. It encompasses Sotka, Asko, and Indoor Group AS, which operates in Estonia, including a store in Tallinn's Rocca al Mare shopping centre. In Estonia, the group is also known under the Lanterna brand. The company has now applied for corporate restructuring because it is struggling with its debts. Restructuring gives a company the chance to reorganise its finances, but for customers, it's often bad news: deliveries are delayed, and money paid in advance isn't automatically protected.

What about those advance payments?

This is where it gets tricky. When you book a holiday, your money is protected – advance payments for package holidays are secured by a special bond. But in the furniture trade, the customer's position is weaker. If Indoor Group goes bust, customers who have paid a deposit for their orders become ordinary, unsecured creditors. Unfortunately, this often means you have to join the queue with everyone else they owe money to, and you might never see a penny of it back.

• Sotka – known for its more affordable price point and extensive ranges.
• Asko – a design-focused, higher-quality, and more expensive brand.
• Lanterna – a brand operating in Estonia and other Baltic markets.
• Asko Rocca al Mare – Indoor Group's store in Tallinn's most popular shopping centre.

At the moment, the company has submitted its restructuring application, but the shops are still open for business. Many stores are running their latest offers, encouraging customers to make purchases. However, you should think twice if a salesperson suggests paying the full amount upfront. The risk is very real right now.

What should customers do?

If you've placed an order and paid a deposit or the full amount, but haven't received your goods yet, here's what to do:

• Contact the store and ask for an update on your order. The restructuring process doesn't automatically cancel orders, but delays are expected.
• If possible, request immediate delivery or suggest paying only when the item is at your door.
• Keep a close eye on the news about Indoor Group's situation. If bankruptcy looks likely, it's wise to file a complaint and, if necessary, register your claim with the bankruptcy estate.

Let's hope we all get through this with just a scare. It's a stark reminder that even trusted local brands can be facing financial difficulties behind the scenes. Fingers crossed that both employees and customers get their money and their goods.