Embattled Danish flat-pack furniture maker Tvilum has been rescued.

A three-way investor consortium, led by Viking Trading, the parent company of Tvilum rival of Steens ­– plus members of the founding Kristiansen family and Tvilum’s new CEO, Torben Porscholdt – have signed a deal which saves some 500 of the (mostly factory-based) 600 jobs at Tvilum, which was declared insolvent last week.

Viking Trading is the majority shareholder in the business, representing a significant consolidation of Danish cabinet furniture manufacture.