Soundvenue, the Danish music and film media company, narrowly avoided bankruptcy after a last-minute financial intervention. The company had been facing imminent collapse due to significant financial losses.

The financial difficulties were highlighted in Soundvenue Group’s 2024 financial statement, which revealed a loss of 5.8 million kroner and a negative equity of 2.4 million kroner. This placed considerable strain on the company’s operations as the year began.

On June 10th, a bankruptcy petition was filed against the company. However, the official bankruptcy proceedings, which began this past Monday, were short-lived.

New funds were injected into Soundvenue Group by its ownership, enabling the company to settle the outstanding tax bill that had triggered the bankruptcy petition. Lawyer Boris Frederiksen, the appointed trustee, had only just begun the initial stages of the proceedings when the new capital arrived.

Lasse Kyed, Soundvenue’s co-owner and CEO, confirmed the averted bankruptcy.