MIDAQ AB (publ)'s subsidiary Gårdsman AB files for bankruptcy

The board of Gårdsman AB ("Gårdsman" or the "company") has today decided to file for bankruptcy. The application will be submitted to the Jönköping District Court today, Friday 27 October.

The decision to apply for bankruptcy is based on the fact that the company has been operating with extensive losses for a long time. The background is that in recent years the outside world has been characterized by inflation, rising interest rates and thereby pressured the purchasing power of the company's customers, who are mostly consumers. During the same period, the company has carried out a number of activities and cost-saving measures to reverse the earnings trend, but without improving the future prospects.

The board of Gårdsman states for the above reasons that the company is insolvent and thus unable to pay its debts and the situation is not considered to be temporary.

Gårdsman has a limited influence on the MIDAQ group's results and the bankruptcy does not affect the group's financial position.

Questions are answered by:

Name: Jonas Netterström CEO MIDAQ Outdoor Living AB
Telephone: +46 70 816 01 80
E-mail: jonas.netterstrom@midaqoutdoor.se

2023-10-27
The board of MIDAQ AB

For further information, please contact: 

Stefan Engdahl, MD/CEO 
+46 70 269 10 80  
stefan.engdahl@midaq.se 

Håkan Sundberg, CFO 
+46 70 269 10 81 
hakan.sundberg@midaq.se