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

If you've recently paid for a new sofa or dining table at Sotka or Asko and haven't received it yet, now's the time to pay attention. Indoor Group, better known through its retail chains Sotka and Asko, has filed for business restructuring. The news has landed like a bolt from the blue, and many are now left wondering: what happens to your money if the company goes under?

What's this all about?

Indoor Group is a major furniture conglomerate, employing hundreds of people in Finland and Estonia. It owns Sotka and Asko, as well as 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 through the Lanterna brand. The company has now applied for business restructuring because it's struggling with its debts. While restructuring gives a company the chance to get its finances in order, it's often bad news for customers: deliveries are delayed, and any money paid upfront isn't automatically protected.

What about those upfront payments?

This is the tricky part. When you book a holiday, your money is protected – advance payments for trips are secured by a special guarantee. But in the furniture business, the customer is in a much weaker position. If Indoor Group goes into bankruptcy, customers who have paid a deposit or the full amount for their orders become ordinary creditors. Unfortunately, that usually means you'll be at the back of the queue waiting for your money, and you might never see a cent.

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

Right now, the company has filed for restructuring, but the stores are still open for business. Many shops are promoting their latest deals to entice customers. However, you should think twice if a salesperson suggests paying the full amount upfront. The risk is very real at the moment.

What should customers do?

If you've placed an order and paid part or all of the cost, but haven't received your goods, here's what to do:

• Contact the store and ask about your order's status. The restructuring process doesn't automatically cancel orders, but delays are likely.
• If possible, ask for speedy 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 seems imminent, lodge a complaint and, if necessary, register your claim with the bankruptcy estate.

Let's hope we all get away with just a fright. It's a stark reminder that even brands that feel like local staples can have financial troubles behind the scenes. Fingers crossed that both employees and customers get their money and their furniture.