Indonesian furniture startup Fabelio declares bankruptcy

Recently, Indonesian furniture and interior design startup Fabelio has been declared bankrupt by the court, and it will hold its first creditor meeting on October 17. Currently, Fabelio owes wages to employees and suppliers. It is understood that Fabelio, established in 2015, mainly provides Indonesian customers with locally produced and imported furniture through an omni-channel model, and provides interior design consulting services to customers from hotels and restaurants. By the end of 2020, Fabelio had received about $19 million in funding. However, Fabelio said that since 2021, the company's financial situation is very bad due to the Covid-19 pandemic and delays in investor funding.

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