Plantagen reaches major step in restructuring plan
Deal News | Dec 20, 2024 | Ratos
Since entering reconstruction in August, Plantasjen Norge AS and Plantagen Sverige AB have been working towards stabilizing their operations. On December 20, both companies submitted debt settlement proposals in Norway and Sweden, where the reconstruction processes are taking place. These proposals have the endorsement of creditors, the reconstructors, and the supervisory committees involved in the reconstruction efforts. This development is a pivotal step in ensuring the companies continue their operations while addressing outstanding financial obligations. The reconstruction process underscores the ongoing commitment by Ratos, the private equity firm overseeing Plantagen, to secure its financial standing and operational continuity.
Sectors
- Retail
- Private Equity
Geography
- Norway – Plantasjen Norge AS is undergoing reconstruction with proposals being submitted for creditor approval in Norway.
- Sweden – Plantagen Sverige AB is part of the restructuring process, submitting similar proposals to creditors in Sweden.
Industry
- Retail – Plantagen operates within the retail sector, specializing in garden and plant products across Norway and Sweden.
- Private Equity – Ratos, as the private equity firm involved, is managing the restructuring and financial strategies of Plantagen to stabilize its operations.
Financials
- Not specified – The article does not specify financial metrics such as the amount involved in the debt settlement proposals.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Plantasjen Norge AS | Target | Company | Norwegian branch of Plantagen undergoing restructuring to secure continuing operations. |
| Plantagen Sverige AB | Target | Company | Swedish branch of Plantagen involved in the restructuring process. |
| Ratos | PE Owner | Company | Private equity firm that owns Plantagen and is overseeing the restructuring process. |
| Reconstructor | Advisor | Other | Responsible for facilitating the reconstruction process and debt settlements in respective countries. |