MQ was bought out by the Swedish investor Mats Qviberg

MQ, a Gothenburg, Sweden-based company operating a fashion retail operation, announced getting into an agreement for being acquired by private investors from Sweden.

The investors are led by Mats Qviberg, which will own 83% of the share and include Claes-Göran Sylvén with 10% of the shares and the MQ management, led by CEO Ingvar Larsson. Claes-Göran Sylvén is also the company's chairman of the board.

At the time of the transaction, MQ was bankrupt, as declared by the Swedish authorities in April 2020.

MQ was founded in 1957 as a fashion department store getting to manage operations of about 120 stores in Sweden in 2019. In early 2020, MQ changed its name to Marqet and launched a new e-commerce site