After the restructuring: 16 We Are Padel facilities in bankruptcy

Eleven Swedish companies owning a total of 16 padel facilities have filed for bankruptcy today. This is revealed by Padel Alto's Swedish sister site PadelDirekt. 

— I can confirm that I have been appointed as receiver for a total of eleven companies that reportedly have 16 padel venues, says Karl Björlin, the responsible bankruptcy administrator Karl Björlin at Cirio Advokatbyrå to Swedish PadelDirekt. 

One of the world's largest padel chains, We Are Padel (WAP), recently filed for corporate restructuring, as they are losing a total of 1.4 million euros every month. It was announced that as much as 50% of all facilities could be closed. 

The company's chairman and founder, Pontus Gustavsson, chooses not to comment further on the matter with PadelDirekt. 

We Are Padel is part of the Ledap Group, which is controlled by the venture capitalist company Triton. It has invested in facilities mainly in Sweden with around 80 venues but is also present in the UK, Germany, and the United Arab Emirates. Corporate restructuring and bankruptcies only affect the Swedish market.