Helsinki-based cafe chain Round has filed for corporate restructuring amid financial difficulties. The company is evaluating the future of its Tripla and Punavuori locations while continuing operations at three other Helsinki spots.
Founder Harri Siekkinen described the current year as challenging for the business. Sales have declined and the company has struggled to meet all loan payments.
"We're in a difficult economic situation," Siekkinen said. "Consumers are spending less and showing less interest in sustainability."
Round initially gained popularity for its fully vegan menu and emphasis on responsible practices. The chain has recently expanded to include animal-based products to address financial pressures.
Siekkisen confirmed the company's first location on Iso Roobertinkatu has been declared bankrupt after closing last autumn. The chain's Asematunneli location also faced bankruptcy proceedings in March.
Current discussions involve potentially closing the Tripla location due to high rent relative to customer traffic. The Punavuori location cannot obtain a liquor license for planned evening activities following recent bankruptcy proceedings.
Despite challenges, Siekkinen remains optimistic about the company's future. "The last quarter shows positive numbers, so we have a positive outlook," he stated.
The company is actively seeking new locations through short-term pop-up agreements with major shopping centers. Siekkinen confirmed negotiations are underway but declined to name specific partners.
Employee layoffs are not expected as part of the restructuring process, though the company did implement temporary layoffs during the summer. Round reported combined revenue of approximately 2.2 million euros with minimal profit.
The chain's expansion beyond its original vegan focus appears to be a practical response to market realities rather than an idealistic choice. This shift highlights the tension between sustainable values and business survival in challenging economic times.