Fona, the Danish electronics chain, has decided to close 25 of its 56 stores in Denmark at the expense of 300 jobs.
The company hopes to prevent potential bankruptcy by radically downsizing the number of stores and employees.
At the beginning of the month, Fona announced a long price war with competitors had taken its toll and that the company was no longer able to pay its creditors.
The company revealed it had suffered a major financial loss that runs into tens of millions of kroner.
The affected Fona stores are located in Glostrup Center, Spinderiet (Valby), Amager Centret, Klampenborgvej, Albertslund, Nørreport, Herlev Bymidte, City 2 (Taastrup), Strøget in Århus, Hellerup, Hvidovre, Nørrebro, Ringsted, Farum Bytorv, Køge, Holbæk, Odense, Aalborg Storcenter, Vejle, Viborg, Fredericia, Sønderborg, Horsens, Holstebro and City Vest (Brabrand).
The 300 employees at these stores will be laid off, and many expressed outrage when they found about their impending redundancy via the media, and not directly from Fona.
Michael Kjær, the administrative manager at Fona, has since sent the employee an email apologising for the error, vowing to visit the stores to talk to the employees about the situation.