The brothers have around 70 restaurants across the country and 500 employees.
The goal of applying for reconstruction today is to save as many restaurants as possible – and thereby save as many jobs as possible, says the brothers' CEO Richard Forsshéll to TT.
Despite the crisis, the restaurants will remain open as usual for the time being.
Our restaurants are open, it's business as usual, says Richard Forsshéll.
According to the press release, the purpose of the reconstruction is to "ensure the company's long-term financial stability".
The company writes that the past few years with the pandemic and high inflation, combined with rent increases, have changed the conditions for both the brothers and the restaurant industry as a whole.
According to CEO Richard Forsshéll, rents have increased by 18 percent over two years, directly due to inflation.
It's too heavy to bear right now, he says.
In 2022 and 2023, the brothers have made a loss of approximately 170 million kronor per year after tax, according to the annual report. In connection with the reconstruction, the company management now estimates that the group's earnings before depreciation (EBITDA) will land around minus 26 million kronor in 2024.
The hamburger chain was founded in 2017 by brothers Joakim and Jonas Wiklander. Among the owners is also Swedish NHL player Mika Zibanejad.
Corrected: In an earlier version, a person was incorrectly named as a co-owner.
