Onoff Estonia: we are not experiencing financial difficulties

12.07.2011, 11:45

As a reaction to the bankruptcy notice of the Swedish electronics company Onoff, the Estonian branch of the same firm has specified that it is not affected by the difficulties.

Liina Kivimägi, the marketing director of Onoff Estonia, says that it is not experiencing financial difficulties and business is continuing as usual.

According to Taloussanomat, The Swedish Onoff which has also branched out to Estonia and Finland, served a bankruptcy notice in its homeland, explaining the decision with harsh competitive market in the electronics area, price pressure and poor profitability.

The company announced that lately the situation has worsened and Onoff has been put under a lot of pressure.