Prague, Czech Republic – Mounting financial pressures are threatening the future of Twist, a retail group operating popular franchises including Trdlokafe and Bubblify, as key landlords initiate terminating lease agreements. The escalating situation comes as the company reportedly struggles to meet its financial obligations, prompting concerns about potential insolvency.
The pressure on Twist intensified this week with reports of commercial centers initiating the cancellation of rental contracts, according to Hospodářské noviny. This development signals a deepening crisis for the group, which also operates Kytky od Pepy, and follows a pattern of disputes with suppliers and creditors over unpaid invoices.
Several creditors have accused Twist of delaying payments until compelled to do so through legal action. In one instance, former programmers were forced to utilize the services of an enforcement officer to recover outstanding debts. Similarly, employees previously employed at closed locations in Spain and a construction firm that built a London retail space for the group have also reported difficulties in receiving payment, according to Seznam Zpravy.
SIS Systémy, a construction firm, is currently owed 1.6 million Czech crowns (approximately $68,000 USD) for work completed on a Bubblify and Rio store on Baker Street in London. Colin Glover, SIS Systémy’s General Director, stated that despite approved cost overruns, the company only received a partial payment, leaving a significant outstanding balance. “Twist approved all the additional costs, so we believed we would be paid in full. All we received was the deposit,” Glover said.
Twist’s management, led by Director Radek Klein, attributes the payment delays to disagreements over the quality of work performed. Klein maintains that no invoices are left unpaid without a corresponding dispute. However, this explanation has failed to quell concerns among creditors.
The situation is further complicated by a recent attack on Bubblify International s.r.o. By Petr Bujnoch, a move that, according to LinkedIn posts by Pavel Novotny, a business reporter at Hospodářské noviny, adds to the difficulty of rescuing the group. Novotny noted that the company is facing a “really tough rescue mission” and questioned whether the current team, including Indra Šebesta v.o.s., Radek Pokorný, and Ondrej Benacek, possess sufficient resources to navigate the crisis.
Daniel Ryška, whose role was not specified in the reporting, was also mentioned by Novotny as a “capable guy,” but the overall outlook remains bleak. The unfolding events are drawing comparisons to past cases, with Michal Mička’s experience alluded to as a cautionary tale.
As of March 6, 2026, Twistcafe Group, the holding company, has not issued a comprehensive statement addressing the lease terminations or the mounting creditor claims. No insolvency proceedings have been formally initiated, but the increasing pressure from landlords and suppliers suggests a precarious financial position.
