Veganz explains that it did not declare insolvency

Picture: Jan Bredak, CEO of Veganz in one of the Veganz shops in Berlin

In a current statement the German firm Veganz GmbH explains that it did not declare insolvency (we reported earlier) but is restructuring the retail stores and focusing on the core business. 

Jan Bredack, founder and CEO of the Veganz GmbH, explains in a statement from January 17: "Contrary to current press articles, the Veganz GmbH did not declare insolvency. Due to our new strategy, meaning the focusing on our core business
as a branded company, we are currently restructuring our retail stores. For this purpose, we registered our subsidiary, the Veganz Retail GmbH, for a self-administered insolvency plan".

And further: "The Veganz Retail GmbH operates our 4 retail stores outside of Berlin and these proceedings grant us particular rights to restructure those stores. Simultaneously, we are examining the practicability of our new flagship-store-concept for every single location. If they prove to be suitable for a restructuring, we will continue those stores in a new design".

Picture: Veganz supermarket in Berlin

"The Veganz parent company is economically sound, self-sufficient and not negatively affected by the measures taken regarding our retail stores. The same applies for all our subsidiaries, which are responsible for in cooperating with the food retailing, product development, procurement and logistics of the group", Bredack states.

"In contrast to the latest press articles, we have been monitoring imminent changes within the food sector going along with their growing demands. As such, we have prepared and aligned our organisational focus on the distribution of our existing 160 Veganz brand products for the food retail. Enabling us to grow our footprint to more than 7.000 point of sales across Europe. We draw a positive balance from the past years and are very well equipped for future developments in trade", the statement says.

More information:

Veganz: love life the vegan way

and in our archive