Bubblify Faces Insolvency as Debt Issues Mount for Twist Group

The Czech bubble tea chain Bubblify, part of the Twist franchise group, is facing an insolvency proposal filed by Alkony-CZ, a company owned by debt collector Petr Bujnoch. The move highlights ongoing financial difficulties within the Twist Group, which also operates Trdlokafe and Kytky od Pepa.

Insolvency Proposal and Claims

Alkony-CZ has filed a claim of approximately 39 million Czech crowns (roughly $1.7 million USD as of February 21, 2026) against Bubblify International. The claim stems from a transaction involving the acquisition of stores from the Oxo network by the Twist Group in the previous year Seznam Zpravy. Twist Group representatives have labeled the insolvency proposal as “shikanózní” (harassing or vexatious).

Roots of the Dispute: Wohlmann and Global TS

According to reporting by e15.cz, the receivables underlying the new insolvency proposal are disputed and linked to convicted businessman Jiří Wohlmann. Wohlmann previously held a stake in Global TS, a company that produced the raw materials for bubble tea, alongside hockey player Jakub Voráček.

In 2024, Wohlmann was sentenced to a suspended prison sentence for tax evasion and subsequently lost his position at Global TS. Around the same time, authorities seized assets from Global TS amid suspicions of subsidy fraud e15.cz. Disagreements between Wohlmann and Voráček reportedly escalated, leading to financial difficulties for Global TS.

Complicated Contractual Web

The dispute involves a series of contracts and alleged unpaid invoices. Gips Centrum, a company controlled by Wohlmann’s wife and business partner, purchased a framework contract between Bubblify and Audeo International, and subsequently began issuing fines for uncollected goods e15.cz. Bubblify maintains it never placed orders and disputes the validity of these claims.

Additional claims relate to unpaid commissions for brokering the sale of the OXO network, with Bubblify alleging that the contracts were not properly executed and that the commission amount was excessive e15.cz.

Twist Group’s History of Financial Strain

This is not the first time a Twist Group company has faced financial challenges. In 2025, Trdlokafe Development 1, a key entity operating Trdlokafe locations, briefly faced insolvency before reaching an agreement with creditors Seznam Zpravy. The group has also faced issues with unpaid invoices and disputes with suppliers, including in the United Kingdom e15.cz.

Franchisee Concerns

Beyond creditor claims, some Bubblify franchisees have expressed concerns about low profitability and are also registering claims in the insolvency proceedings e15.cz.

The Twist Group recently received capital investment from CEIP, which they state is stabilizing the situation.