The organic retailer Basic applied for insolvency proceedings under self-administration. This is reported by the “Lebensmittelzeitung”. The company’s subsidiary Biomammut is also to be rehabilitated using the protective shield process.
Biomammoth had already filed for insolvency proceedings under self-administration at the end of November. The Management Board has now filed for Basic AG to file for insolvency. The court has already followed him. The company owns 22 basic markets and six organic mammoth markets.
According to the report, Basic AG is struggling with rising rents and higher costs due to the larger headquarters in Munich, which will open in November. The company recently reported net sales of around 150 million euros. Basic AG is one of several organic retailers who have already gotten into trouble. The largest health food retailer, Bacher, and the fifth largest specialist retailer, Superbiomarkt, are being renovated. The wholesaler BiUno Bio was even wound up.
