According to information from Creditsafe, the Stockholm District Court made a bankruptcy decision on April 28, 2026. Fredrik Thor at CMS Wistrand Advokatbyrå has been appointed as the bankruptcy administrator.
The formal bankruptcy follows shortly after the founder, Elena Ekström, published an open letter on the company's Facebook page on March 31. The post announced that the e-commerce business would be permanently closed on April 7. The closure was explained by a combination of external market factors and internal challenges:
Over the years, we have had many highlights but also challenges – rising prices, a tough market and limitations as a small team.
Supplier Changes And Consumed Share Capital
Behind the decision to close the company are also significant operational difficulties. The company's annual report for 2024 shows that the company made changes to two central suppliers during the year, including changes to both the main product supplier and the supplier for distribution and warehousing. These supplier changes required significant effort from the company and negatively impacted both results and sales.
At the balance sheet date for 2024, the board of directors also stated that the company's share capital had been consumed. Net sales for 2024 amounted to SEK 3.5 million, a decrease from SEK 4 million in 2023. The operating result for the year was SEK -818,116.
Backed By Well-Known Profiles
Bukvy was founded in 2016 by Elena Ekström and Joanna Bark, focusing on multifunctional bags (so-called 5-in-1 bags) adapted for working life.
The company received media attention in 2022 when, after the challenges of the pandemic, they raised new capital. The investment round included food creator Frida Lund, influencer Nina Campioni and Airmee CEO Elin Härén. Bukvy has, during its operating time, had a strong focus on sustainability and ethical production, and has often emphasized that the company was 92 percent owned by women.