On June 25, 2026, Planethic Group AG (formerly Veganz Group AG) decided to file a petition with the competent Berlin Local Court to open insolvency proceedings under self-administration. The aim of this step is to continue the restructuring measures already underway and to ensure the company’s long-term competitiveness.
Operations are expected to continue without interruption. According to the company, customers, suppliers, and business partners can continue to work with the company as usual. The insolvency filing applies exclusively to the holding company; subsidiaries and affiliated companies are not affected by the proceedings.
Bondholders’ meeting cancelled
The filing has also prompted the cancellation of a bondholders’ meeting that had been scheduled for July 21, 2026, concerning the company’s outstanding €10 million 7.5% notes due 2020/2030 (ISIN: DE000A254NF5). According to the company, the material change in the legal and economic circumstances resulting from the insolvency filing means the proposed resolutions can no longer be appropriately addressed. Planethic said it would keep bondholders informed as the proceedings progress.
Self-administration under the provisions of the Insolvency Code allows the Executive Board to continue managing the company on its own under the supervision of an administrator to be appointed by the insolvency court, while implementing the necessary restructuring measures. The company views this procedure as the arrangement that “offers the best prospects for a successful restructuring,” as stated in the ad hoc announcement.
The filing follows a restructuring that began in 2025, when the company renamed itself from Veganz Group AG to Planethic Group AG and moved to a holding structure, spinning its operating divisions, including Mililk, Happy Cheeze, and Peas on Earth, into separate subsidiaries. This was designed to give each business more room to attract investment and hit its own growth targets.
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