Bankruptcies threatening Vapiano pasta restaurants in Germany and Sweden will not destabilize the finances of Vapiano restaurants in Finland and the Baltic countries, the company's management assures.
- What is happening in Vapiano's parent company does not in any way affect Vapiano's internationally licensed restaurants in different countries, says Älian Mägi, Marketing Director.
According to him, the restaurants will be reopened after the crisis.
Vapiano restaurants in the Baltics and Finland are managed by the Estonian company Apollo Group, which also operates licensed O'Leary and KFC restaurants in Estonia, as well as its own cinemas and bookstores called Apollo.
The corona epidemic has aggravated the financial situation of Vapiano restaurants in Germany and Sweden. The German parent company Vapiano filed for bankruptcy in early April, and in Sweden, three of the chain’s franchise restaurants went bankrupt as early as mid-April. According to the bankruptcy applications, the restaurants are running out of funds and are being tried to be sold together or separately.
Read more: Bankruptcy wave sweeps Vapiano chain: restaurants for sale in Sweden