Fabelio
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
Fabelio was an Indonesian design-centric e-commerce company founded in 2015 in Jakarta, operating as PT Kayu Raya Indonesia. It built and sold locally designed furniture online and through showrooms, and offered interior-design services to Indonesian consumers and businesses. After expanding to 15 offline outlets, the company was declared bankrupt by the Commercial Court of the Central Jakarta District Court on October 5, 2022.
02 / Fabelio FAILURE REASONS
Failure reasons
Fabelio collapsed under cash flow pressure and over-expansion. Scaling to 15 showrooms locked up working capital in inventory and leases, while furniture sales dropped drastically and revenue could no longer cover operational expenses. Staff went unpaid from late 2021, vendors were left hanging, and the company closed 14 of its 15 outlets in 2021. A creditor filed for PKPU debt restructuring on March 7, 2022; when restructuring failed, the Commercial Court declared PT Kayu Raya Indonesia bankrupt on October 5, 2022, ending the company once hailed as Indonesia's answer to IKEA.
03 / EVENT HISTORY
Events in the structured record
- Bankruptcy
Pengadilan Niaga PN Jakarta Pusat decision No.47/Pdt.Sus-PKPU/2022 dated 5 October 2022 declared furniture e-commerce operator PT Kayu Raya Indonesia (Fabelio) bankrupt with all legal consequences; curator Gde Braga Abi Tamara appointed.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
Furniture retail is inventory-heavy: every new showroom locks up cash that cannot be recalled quickly.
- 02
Unpaid staff and vendors are the last warning sign — by the time payroll stops, the cash crisis is already terminal.
- 03
Expanding to 15 outlets before the unit economics work multiplies the burn instead of the revenue.
- 04
When a creditor files for restructuring, treat the PKPU process as the final deadline, not a fresh start.