A federal bankruptcy judge this week approved the liquidation of the once-18 unit Planta restaurant chain.
The upscale vegan concept filed for Chapter 11 bankruptcy in May 2025, blaming the pandemic and the following consumer slowdown in spending in 2023 and 2024. Planta had also taken on considerable debt as it pushed to build about 12 units over three years, according to court documents.
The Miami-based chain fell behind in payments, and in August 2025 was acquired out of bankruptcy by lender Anchorage Capital Group, with a bid valued at $7.8 million, mostly converting debt to equity.
Following the deal, however, potential litigation claims arose related to the conduct of certain former directors and officers, who were not named in court documents.
After months of negotiation with those directors and officers, the reorganization committee determined that the company had essentially run out of funding, and the issue would be better resolved by a Chapter 7 trustee, according to court documents.
In February, Planta requested that the bankruptcy be converted to Chapter 7 liquidation, which the judge approved this week.
The liquidation includes 17 restaurant locations across the U.S., in New York, Washington, D.C., Miami, Chicago, Denver, Atlanta and California.
Planta did not immediately respond to requests for more information. The website lists five restaurants that appear to be open in the U.S., and two in Canada. But calls to other restaurants indicate several have closed permanently, including some units in Los Angeles and Brooklyn, N.Y.
Co-founded in 2016 by chef David Lee, Planta was one of a number of plant-based concepts attempting to capture what was then growing interest in vegan dining.
That interest, however, appears to have waned. A number of plant-based concepts have shuttered over the past two years, including Kevin Hart’s Hart House in Los Angeles, Honeybee Burger, Stalk & Spade and VegeNation. Veggie Grill shuttered about 40% of its units before being acquired by Next Level Burger in 2024.
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