Plantasjen, a Ratos subsidiary, is announcing that Plantasjen Norge AS, Plantagen Sverige AB and Plantagen Finland Oy are filing for restructuring proceedings. These entities contain the store network, including lease agreements, and certain central functions in Sweden, Norway, and Finland. These steps are necessary to transform Plantasjen into a long-term financially viable business. No other companies of the Plantasjen group are subject to restructuring proceedings, consequently Plantasjen's sourcing and logistics companies will continue operations as before.
The primary objectives of the restructuring are downsizing the store network, optimizing lease contracts, and rightsizing the organization.
"The actions presented today are necessary to transform Plantasjen into a financially viable business going forward and are deemed to be in the interest of the company and its stakeholders. The restructuring is intended to secure long-term and stable profitability on the bottom line," says Jonas Wiström, President and CEO, Ratos.
Despite significant cost reduction programs, it has not been possible for Plantasjen to reach profitability in a high inflation environment impacting both cost levels and consumer purchasing power.
The ambition is for Plantasjen to secure a strong store network, which can continue to serve customers and build on its position as the preferred garden center in the Nordic region. All stores will remain open until further notice.
Applications for restructuring of Plantasjen Norge AS, Plantagen Sverige AB and Plantagen Finland Oy will be filed today.
For more information, please contact:
Josefine Uppling, VP Communication, Ratos
+46 76 114 54 21
[email protected]
This information is information that Ratos is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-08-22 08:00 CEST.
About Ratos
Ratos is a Swedish business group focusing on technological and infrastructure solutions, consisting of 17 companies divided into three business areas: Construction & Services, Industry and Consumer. The companies have approximately SEK 33 billion in net sales (June LTM). We have a distinct corporate culture and strategy - everything we do is based on our core values: Simplicity, Speed in Execution and It's All About People. We enable independent subsidiaries to excel by being part of something larger. People, leadership, culture and values are key focus areas.
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