Plantagen reaches important milestone in reconstruction process

Since August 22, 2024, Plantasjen Norge AS and Plantagen Sverige AB have been under reconstruction to ensure the continued operation of the businesses. As part of the reconstruction plans, the companies concerned are today, December 20, submitting proposals for debt settlements in both countries. The proposals are endorsed by creditors and the administrator in each country, as well as the reconstruction committee overseeing the Norwegian process.

"I am very pleased that we have reached this milestone, which lays the foundation for a financially sustainable and operationally stronger Plantagen. The past months have been marked by great uncertainty and I want to thank all employees for their invaluable contributions - I am impressed by how they have rolled up their sleeves and focused on providing customers with the best experience," says Jesper Lien, CEO of Plantasjen Group.

Assuming the debt settlements announced today are finalized and become legally binding, which is expected to occur by mid-February 2025, Plantasjen Norge AS and Plantagen Sverige AB will be given good conditions to ensure the viability of the companies and focus on the profitable garden centers.

This is an important milestone for Plantagen as a company and especially for our customers. The proposals are the result of constructive dialogue, where the majority of our stakeholders have shown willingness and interest in ensuring a long-term sustainable solution. This gives us the opportunity to continue building our position as the leading plant and garden center chain in our markets. The stores are now fully engaged in the Christmas shopping season, and we look forward to welcoming customers in our store network,” says Jesper Lien, CEO of Plantasjen Group.