Mesh collapses when used as soft body

Hello all,

I am using our company logo as soft body mesh. But already in frame 2 the inner part of the logo vanishes and the object dimensions become insane numbers.
It looks weird. I attached the scence. Maybe someone can give me a hint on what I did wrong here?

Thanks a lot!
Mick

Soft Body Sim 01.blend (837.9 KB)