PLANTA Closes Toronto Locations After Bankruptcy Restructuring, Bets on US Recovery

Plant-based restaurant chain PLANTA has permanently closed its two remaining Canadian locations in Toronto after facing sustained financial pressures in the Canadian market. The closures on May 19, 2026, mark the end of the brand's presence in the city where it was founded a decade ago. The company is now focusing its resources on its US operations, which have shown signs of recovery with sales at some locations increasing by as much as 20% in 2026.

Following a turbulent period that included a Chapter 11 bankruptcy filing in the United States in May 2025, PLANTA was acquired by lender Anchorage Capital Group for $7.8 million. Despite the challenges faced, the chain's chief operating officer, Dan Moody, expressed optimism for the future, mentioning a more globally inspired menu rollout and a potential for further expansion in 2027. PLANTA remains committed to its 100% plant-based positioning as it moves forward with its US locations.