Plantagen Completes Reconstruction with Legal Approval in Norway and Sweden

Plantagen, operating under Swedish private equity firm Ratos, has successfully completed its reconstruction process approved by courts in Norway and Sweden. Initiated on 22 August 2024, the reconstruction sought to ensure long-term sustainable operations and financial stability by lowering costs, debts, and capital requirements. Key measures included the closure of underperforming stores, significant downsizing of employees, and extensive cost-saving initiatives, resulting in a substantial annual cost reduction estimated at SEK 400 million. The reconstruction facilitates Plantagen's focus on meeting customer demands and maintaining its market-leading position in Norway and Sweden, while addressing financial challenges posed by high inflationary pressures. Overall, the measures are anticipated to cultivate a more financially stable company poised for future successes.