Kurt Daell, the 75-year-old billionaire owner of Harald Nyborg and Jem & Fix, is not doing so well with some of his other investments – particularly the spring water company Danish Bottling Company, which remains an economic nightmare for the wealthy businessman.
The spring water company has lost 130 million kroner since Daell and his son Erling became major shareholders in 2007. Last year’s debt was 13 million kroner, forcing father and son to give the business a cash infusion.
Things are no better at Daells Bolighus, which lost a record 23.6 million kroner last year, forcing the owners to pump 40 million kroner into the ailing furniture concern.
Not beat yet
Overall, Kurt Daell and his son have lost over a quarter of a billion kroner on their spring water and furniture businesses over the past eight years.
Harald Nyborg Group managing director Arne Gerlyng-Hansen said that despite the losses, the company has not lost interest in Danish Bottling Company or Daells Bolighus.
“We are not at the end of the road yet,” he told Jyllands-Posten. “There are still things to do.”