On Friday, employees in both Sweden and Denmark were notified that they had been fired and were no longer with Wismo Group. At least one director has resigned.
A number of Danish and Swedish employees were informed on Friday last week that they are no longer part of the car importer Wismo Group, formerly KW Bruun.
According to Motormagasinet, 50 employees in the two countries have all been laid off.
The media outlet also writes that the Citroën director, Wismo, who imports the Stellantis group in Denmark and Sweden, has resigned from his position.
The round of layoffs comes at a time of stormy weather for the former Danish car importer, which came into foreign hands last year.
In addition to the round of layoffs, the new company owes more than 1 billion kroner in interest alone, after money was borrowed for the acquisition.
The expense stems from a loan of DKK 7.9 billion that GAHP provided to its Danish subsidiary, 487 Cornwall Investment, in connection with the acquisition of Wismo Group in 2024. The loan has an annual interest rate of 11.5 percent, resulting in an annual interest expense of approximately DKK 900 million.
The layoffs, announced on Friday, mean that Wismo has said goodbye to 10 percent of its employees. In recent years, the import has tried to distance itself from the crisis-stricken Stellantis by bringing a number of Chinese brands to Denmark.
Most recently, the new brand Navor has dropped a price bomb on the market. And this even though electric cars dropped in price at the beginning of the new year. Read more about it here .
According to the CVR register, Wismo Group had a profit of over one billion kroner before tax in 2023 – when it was still called KW Bruun. Double as much as in 2019.
