Dual Bankruptcies Signal Downturn in Estonian Consumer Sectors
Estonian restaurateur Sten-Erik Jantson's company HeavyCruiser and major furniture retailer Indoor Group, owner of the Asko and Sotka brands, both filed for bankruptcy on February 9, 2026, signaling significant distress in the country's consumer-facing industries amid failed financing and mounting debts.
- —Harju County Court declared the bankruptcy of HeavyCruiser, a company formerly owned by restaurateur Sten-Erik Jantson, on February 9, 2026.
- —Indoor Group, the owner of furniture stores Asko and Sotka and furniture manufacturer Insofa, also filed for bankruptcy on February 9, 2026, after failing to secure financing.
- —The bankruptcy of HeavyCruiser follows a period of financial difficulties for Jantson's businesses, including unpaid rent and significant tax debts.
- —Indoor Group's bankruptcy comes two years after its furniture stores Asko and Sotka exited the Estonian market.
Recap
The simultaneous collapse of two notable Estonian companies in the restaurant and retail furniture sectors is not a coincidence but a clear indicator of broader economic pressure. The failure of Indoor Group to secure financing, even after significant restructuring, suggests deep-seated instability and waning investor confidence. Jantson's long-running financial troubles culminating in bankruptcy further underscores the harsh operating environment for consumer-focused businesses in the country.