Lumega Denmark ApS - Under bankruptcy
Copenhagen February 12, 2024
Lumega Denmark ApS Transformation and formation of Run Group ApS:
A New Chapter in European Lighting
Copenhagen, Denmark – In early 2010, Lumega Denmark ApS was founded and emerged as a pioneering force in the lighting industry. The business was established by Rune Søgaard Larsen who at that time was a well-known author of the first Danish technical book about Light-Emitting Diodes also known as LEDs. At that time, he was a young man in his early twenties with big dreams and a strong passion about LED lighting. He travelled around Denmark and Sweden, lecturing about the LED technology. In 2014 he reached his goal of 300 lectures. Thereafter, he decided to focus only on the lighting business and left the lectures behind.
Rune Søgaard Larsen established a portfolio of clients where he supplied LED lighting luminaires to a diverse of projects over several of years. His business was growing and to support the business, he built a team and took on a new role as a leader. In the period from 2014-2016 the projects became larger and new potential clients abroad started to get in touch with the company.
In 2018, Rune Søgaard Larsen stepped up the game and travelled to 32 countries in one year. Each time, he was away for approximately 3-6 days. It took hard work and determination, but he managed to get his business idea across with distributors and agents. Agreements were signed and Rune Søgaard Larsen was proud to get his own Danish designed luminaires implemented in projects around the world. At times it was a struggle, but it was worth every sacrifice as new perspectives and business opportunities opened.
From 2018-2019, the company had great success with the projects abroad, however, when the COVID19 pandemic hit, distributors and agents had almost no activity due to lock downs and restrictions worldwide.
As a consequence of COVID-19 Rune Søgaard Larsen and the team had to change the business strategy. The entire organization within Lumega went from selling quite well in other countries to almost 0 in sales. As a result, he chose to only focus on the Danish clients. The change in business strategy turned out to be the best chess piece move in the history of Lumega. The company increased sales and had significant financial growth in the period from 2019-2021.
After the pandemic, many businesses were struggling to get back on track because of significant financial losses and increased dept leading to bankruptcy. Additionally, many businesses are still struggling years after. Unfortunately, in October 2023, Lumega Denmark ApS faced another setback leading to bankruptcy. The company suffered from significant financial losses due to the unexpected insolvency of two major clients. As a result, the company faced significant challenges. The extended timeliness on many construction projects and covering the fixed monthly expenses, made it difficult to recover.
In the spirit of responsible business practices, Rune Søgaard Larsen has tirelessly worked to maximize returns for creditors, minimizing losses for banks and suppliers there was associated with Lumega Denmark ApS. This commitment to financial responsibility underscores his dedication to ethical conduct and corporate integrity.
After saying goodbye to Lumega Denmark ApS and returning to the drawing board, Rune Søgaard Larsen is excited to announce the establishment of a new company - Run Group ApS. Under the umbrella of Run Group ApS, he introduces three subsidiaries: Lumega Europe ApS, Luxega Europe ApS and Lumegahome ApS. These subsidiaries are all registered trademarks and will collectively operate across Europe with the same product portfolio, allowing the companies to streamline operations and improve customer service.
Run Group aims to reshape and revolutionize the lighting industry in Europe. With a singular vision to become the most present and service-oriented technical lighting manufacturer. Run Group are committed to strategic growth. To achieve this, the group will selectively partner with clients, ensuring a mutually beneficial and sustainable business relationship.
It is important to note that Run Group's decision-making process will involve respectfully declining partnerships with some potential customers in order to maintain the highest standards of service and attentive behavior. This selective approach ensures that the focus remains on delivering exceptional value to customers and fostering long-term partnerships.
As Rune Søgaard Larsen embarks on this new journey with Run Group, he expresses his gratitude for the support provided during the transition period. Rune Søgaard Larsen and the new team are excited about the new opportunities ahead and look forward to illuminating the European market through innovation, exceptional service and presence.
Lumega - Quality of life and light.
For further information, please contact us:
Media Contact Person: Rune Søgaard Larsen
Title: Group CEO
Email: rsl@lumega.eu
About Run Group ApS
Run Group ApS is a forward-thinking conglomerate comprising Lumega Europe ApS, Luxega Europe ApS, and Lumegahome ApS. Headquartered in Copenhagen, Denmark, Run Group ApS is committed to revolutionizing the lighting industry in Europe by prioritizing customer service, ethical business practices, and strategic growth.
