Danish cyclist shop owner still struggling two years after devastating storm flood

A cyclist shop owner in Præstø lost around 1.5 million Danish kroner (€200,000) when a storm flood destroyed his business in 2023, and despite efforts to rebuild, he continues to face financial and emotional challenges, reports Danish broadcaster DR.

Bo Holm Petersen, owner of Lykke Cykler, describes how floodwaters up to a metre high ruined everything in his shop—from inventory and tools to electronics—leaving him with no way to recover the losses. “All the iron rusts, all the floors, all the computers—everything is just destroyed by moisture,” he said.

Since the flood, Petersen has struggled to restore both his business and personal finances, even withdrawing a significant portion of his pension to stay afloat. “Hard work, lack of respect, and lack of help—that’s what defines this period for me,” he told DR. “Your entire livelihood disappears in a few hours. There’s no way to plan for it or work against it. It’s a terrible feeling of helplessness.”

A new analysis from the Technical University of Denmark (DTU) estimates that storm floods over the next century will cause around 400 billion kroner (€54 billion) in damages nationwide, with 46% affecting private businesses—from major ports to small enterprises like Petersen’s shop.

He argues that policymakers must allocate more funds to prevent future floods and provide faster, more effective support to affected businesses. “Our country relies on small and medium-sized businesses, and they’re the ones who struggle most to recover from these events,” Petersen said. “When we’re hit, it’s us who are hit personally. If personal businesses close, it becomes a national problem.”

After the flood, Petersen received no insurance payout because storm flooding was excluded from his policy. Instead, he got limited compensation from Denmark’s Naturskaderådet (Natural Disaster Council), which only covered direct damages—not the broader financial fallout. His shop remained closed for six months, while bills for inventory, wages, and rent piled up.

Now operating from a new location with the entrance 120 cm higher above sea level, Petersen says revenue has yet to recover as customers found alternatives during the closure. With his pension tied up in the business, he feels trapped. “Most mornings, I wake up thinking, this is just too much work,” he admitted. “It’s not worth betting on success anymore. It’s exhaustion. It’s frustration. It’s misery.”