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Danish Michelin-starred restaurant files for bankruptcy

Denmark's glitziest new hotel opening has been put on hold and the owner of two of its most celebrated Michelin-starred restaurants has filed for bankruptcy. Despite government financial support, the coronavirus lockdown is starting to bite.

Danish Michelin-starred restaurant files for bankruptcy
Kadeau Restaurant on Bornholm was one of Denmark's leading fine-dining establishments. Photo: Kadeau/Instagram
The Kadeau Restaurant group, which owns a one Michelin star restaurant on Sømarken beach on the island of Bornholm, and a two Michelin-starred eatery in Christianshavn, Copenhagen, on Monday filed for bankruptcy. 
 
“We have had to throw the towel in the ring and file for bankruptcy. This crisis has hit us at the worst possible time,” said Magnus Klein Kofoed, the group's chief executive, told Denmark's Finans newspaper. 
 
He said that his restaurants tended to have strong cashflow over the summer but run at a loss over the winter, meaning the crisis had hit them at a time when the group's coffers were near empty. 
 
 
“We were at the bottom of liquidity,” he said. “To be brutally honest, I don't really know anything about the future. Maybe we can resume some of the activities on the other side of the crisis. Right now we just don't know what the world looks like when we're on the other side.” 
 
The group announced that it was closing its two restaurants the week before the Danish government brought in its ban on sit-down restaurants. 
 

 
 
 

 
 
 
 
 

 
 

 
 
 

Dear friends,⁠ ⁠ More and more measures are being taken to stop the spread of corona virus and as of today, the Danish government has ordered all restaurants, bars and cafés to close. This only confirms to us, that we made the right decision, when we chose to close all our restaurants last week.⁠ ⁠ These are challenging times for us all, but especially to everyone in the hospitality industry, who has had their entire livelihood pulled out from under them. No one in this business has had anything handed to them, we have all worked hard and passionately, and it breaks our hearts to see both ourselves and all of our friends and colleagues in this incredibly difficult situation. ⁠ ⁠ We urge you to support not just us, but all members of our community – buy a giftcard or order take out from the restaurants that offer it. ⁠ ⁠ We miss you dearly, and we are aching to get back in the kitchen as soon as possible. Things will get back to normal, and we want nothing more than to be here for you, when it does. ⁠ ⁠ Lots of love,⁠ ⁠ the Kadeau-team

A post shared by Kadeau – Bornholm & Copenhagen (@restaurantkadeau) on Mar 18, 2020 at 7:42am PDT

 
At the same time Nordic Choice Hotels, run by the colourful Norwegian billionaire Petter Stordalen, has put the opening of the Villa Copenhagen hotel, which has cost 1.5bn Danish kroner to build, on hold. 
 
“We were looking forward to opening Villa Copenhagen, but due to the restrictions we are late,” Torgeir Silseth, the company's chief executive told Danish public broadcaster DR. 
 
 
“Since the concept is designed to be a meeting place where Copenhageners can have breakfast, lunch or dinner together, it makes the most sense to postpone it until society is more normalised again,” he said, saying the hotel hoped now to open on May 14. 
 
Nordic Choice's founder and owner Petter Stordalen won the AHEAD design award in part for his work on Villa Copenhagen (see photo below). 
 
 
 

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COVID-19

IN NUMBERS: Has the Omicron Covid-19 wave peaked in Denmark?

The number of new Covid-19 infections fell on Saturday for the second day in a row, following a three-day plateau at the start of last week. Has the omicron wave peaked?

IN NUMBERS: Has the Omicron Covid-19 wave peaked in Denmark?
Graffiti in the Copenhagen hippy enclave of Christiania complaining of Omicron's impact on Christmas. Photo: Philip Davali/Scanpix

How many cases, hospitalisations and deaths are there in Denmark? 

Denmark registered 12,588 new cases in the 24 hours leading up to 2pm on Saturday, down from the 18,261 registered on in the day leading up to Friday at 2pm, which was itself a decline from the record 28,283 cases recorded on Wednesday. 

The cases were identified by a total of 174,517 PCR tests, bringing the positive percentage to 7.21 percent, down from the sky high rates of close to 12 percent seen in the first few days of January. 

The number of cases over the past seven days is lower than the week before in almost every municipality in Denmark, with only Vallensbæk, Aarhus, Holseterbro, Skanderborg, Hjørring, Vordingborg,  Ringkøbing, Kolding, Assens, Horsens, Thisted, and Langeland reporting rises. 

Hospitalisations have also started to fall, with some 730 patients being treated for Covid-10 on Saturday, down from 755 on Friday. On Tuesday, 794 were being treated for Covid-19 in Danish hospitals, the highest number since the peak of the 2020-21 winter wave.

The only marker which has not yet started to fall is the number of deaths, which tends to trail infections and hospitalisations. 

In the 24 hours leading up to 2pm on Saturday, Denmark registered 28 deaths with Covid-19, the highest daily number recorded since 20 January 2021, when 29 people died with Covid-19 (although Denmark’s deadliest day was the 19 January 2021, when 39 people died). 

How does Denmark compare to other countries in Europe? 

Over the last seven days, Denmark has had the highest Covid-19 case rate of any country in Europe bar Ireland. The number of new infections in the country has climbed steadily since the start of December, apart from a brief fall over Christmas. 

So does this mean the omicron wave has peaked? 

Maybe, although experts are not sure. 

“Of course, you can hope for that, but I’m not sure that is the case,” said Christian Wejse, head of the Department for Infectious Diseases at Aarhus University Hospital. “I think it is too early to conclude that the epidemic has peaked.”

He said that patients with the Omicron variant were being discharged more rapidly on average than had been the case with those who had the more dangerous Delta variant. 

“Many admissions are relatively short-lived, thankfully. This is because many do not become that il, and are largely hospitalized because they are suffering with something else. And if they are stable and do not need oxygen, then they are quickly discharged again.” 

Denmark’s Prime Minister Mette Frederiksen said during a visit to an event held by the Social Liberal party that the latest numbers made her even more optimistic about the coming month. 

“We have lower infection numbers and the number of hospitalisations is also plateauing,” she said. “I think we’re going to get through this winter pretty well, even if it will be a difficult time for a lot of people, and we are beginning to see the spring ahead of us, so I’m actually very optimistic.” 

She said that she had been encouraged by the fact that Omicron was a “visibly less dangerous variant if it is not allowed to explode.” 

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