Morning Warning List
Denmark's Apple shop chain is back after a near-death, and AI's biggest borrower is being charged like a company in trouble.
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Denmark
Recent falls and rescuesNo Danish company is in early danger on today's evidence. These are this autumn's falls and rescues, so we can learn from them. Early warnings appear here the day we find them.
- 1
Humac
Sells Apple products in Denmark, with advice, set-up and repairs, through its own shops.
Eight years of losses in a row. Now the man who sold it in 2024 has bought it back.
Rescued. Closed on 13 August, reopened on 16 September under a new owner.
- Went into reconstruction and closed every shop and the webshop · 13 Aug 2026 · source
- Lost DKK 27 million in 2025, its eighth losing year in a row · 2025 accounts · source
WatchWhether the new owner can make the shops pay.
Read the 5 Minute StoryDThe old company went into reconstruction - 2
Velkommen group
Sold electricity to Danish homes under several brand names.
Customers waited too long for money they were owed, and the companies lost the right to sell power.
The grid companies asked the court to declare the four companies bankrupt. More than 32,000 customers were moved to new suppliers on 30 June.
- Late with refunds in most cases checked by the regulator · 30 Jun 2026 · source
- Grid companies Cerius and Radius asked for bankruptcy · 2026 · source
WatchHow much customers get back.
DBankruptcy requested - 3
Hamiconsult
An engineering consultancy in Herning that advised on building and construction projects.
The warning was in its own accounts: the last annual report already doubted the company could carry on.
Declared bankrupt by the court in Herning on 15 September.
- Declared bankrupt; a sister company was asked into bankruptcy the same day · 15 Sep 2026 · source
WatchWhat happens to the rest of the group.
DBankrupt - 4
CPH Steel
Made and fitted steel structures for Danish building projects.
A few building jobs that went wrong emptied the till. More than 1,300 suppliers were left unpaid.
Reconstruction in July failed. Declared bankrupt on 5 August.
- Rescue attempt failed within weeks · 5 Aug 2026 · source
- More than 1,300 creditors unpaid when reconstruction began · 31 Jul 2026 · source
WatchWhether anyone buys the business.
DBankrupt - 5
Nimbus
Tried to bring back Nimbus, the classic Danish motorcycle, as an electric motorcycle.
Twelve years of trying to bring back a Danish legend ended before the electric motorcycle reached the road.
Asked into bankruptcy in June, according to its own website.
- Bankruptcy requested · 12 Jun 2026 · source
WatchWhether someone buys the name.
DBankruptcy requested
The world
Top 5 that morning- 1
CoreWeave
Rents out huge data centres full of Nvidia AI chips to the companies building AI.
Its sales more than doubled, but it borrowed so fast that lenders now charge it like a company that could struggle to pay.
Nothing filed. Its shares still trade.
- Lenders now demand about 15% a year on its bonds · 16 Oct 2026 · source
- Debt rose from $21bn to $35bn in six months · Q2 2026 report · source
WatchIts results in November.
Read the 5 Minute Story44/100New on the listCCCSerious weak spots - 2
Poundland
Runs about 600 discount shops in the UK and Ireland, where they are called Dealz.
Customers are coming back to the shops, but in my view buyers and lenders now decide its future.
Nothing filed. Its owner wants a deal by the end of October, as a whole or in parts.
- Up for sale, with bidders for parts of the chain · 19 Oct 2026 · source
WatchWho buys it, and whether all the shops stay open.
Read the 5 Minute Story29/100UnchangedCIn trouble - 3
JetBlue
A low-cost US airline based in New York.
Not yet scored. Some of its bonds sell far below what they will pay back.
Nothing filed. Its shares still trade.
- Some bonds trade near 72 cents on the dollar · 8 Oct 2026 · source
WatchIts next results and any new loans.
Not yet scored - 4
Petra Diamonds
Mines diamonds in Africa and sells them to traders and jewellers.
Not yet scored.
One of its money-handling companies was closed over a tax bill. A new loan deal is still pending.
- A group company was closed over a £5.6m tax bill · 14 Oct 2026 · source
WatchWhether the new loan deal is signed.
Not yet scored - 5
Zavvi
Sold films, games and fan merchandise online.
It has stopped trading, and orders were cancelled.
In administration since 12 October.
- Entered administration · 12 Oct 2026 · source
WatchWhat is sold, and to whom.
DIn administration