Stockholm Court Approves Mathem's Reconstruction Exit Plan
Mathem gains court approval to exit reconstruction, securing 700 jobs and aiming for profitability by 2027.
Key Points
- • Stockholm District Court approves Mathem's reconstruction plan.
- • The plan secures approximately 700 jobs at Mathem.
- • Mathem targets to return to normal operations and achieve profitability by 2027.
- • The decision becomes effective in three weeks unless appealed.
On July 10, 2025, Stockholm District Court approved Mathem's reconstruction plan, allowing the leading Swedish e-commerce company to leave its financial reconstruction process. The court's decision was backed by a majority vote from creditors and stakeholders who supported the plan last week.
The approval secures approximately 700 jobs at Mathem and marks a significant step towards the company's goal of returning to normal operations while aiming for profitability by 2027. André Knüppel, CEO of Oda/Mathem, expressed satisfaction with the court's ruling, stating, "This decision is correct and based on the applicable law," reassuring that it positions Mathem as a strong competitor in Sweden's grocery e-commerce sector.
Currently, Mathem is recognized as Sweden's leading online grocery retailer, boasting a revenue of 2.5 billion SEK in 2022 and maintaining a reach to about 53% of Swedish households. The court's decision will take effect in three weeks, provided there are no appeals against it. The decision paves the way for Mathem to focus on revitalizing their business and enhancing their service as they strive to meet consumer demands in a competitive market.
The approval of this reconstruction plan signifies a crucial recovery point for Mathem as it works to sustain its market position and growth opportunities in the rapidly evolving e-commerce landscape.
This event illustrates the broader challenges and changes faced by businesses in the Swedish economic environment, particularly those in the e-commerce branch, as they adapt to market needs and financial pressures during these uncertain times.