Transcendent Group to close its German business
Transcendent Group has decided to close its business in Germany due to low demand and limited possibilities to achieve profitability. By closing the business, the company can turn its focus to markets where the growth opportunities are assessed to be stronger. The closure is expected to have a total negative result impact of approximately SEK 2.5 million during the third and fourth quarter of 2020. Transcendent Group’s German business was started in July 2019 and currently has 4 employees. Due to the short history, it has not yet reached any significant revenue levels. The company also