Palmers is Insolvent and Files for Reorganization Proceedings

The insolvency of the textile chain Palmers has bad consequences for thousands of Austrians: The famous green voucher coins are now worth almost nothing! But that's not all: the bankruptcy of the traditional company will also cost taxpayers a lot – with more than ten million euros! "Vouchers can no longer be redeemed until further notice", says Palmers. At least during the renovation phase. There are considerations to accept the coins again afte…

For more than a hundred years, the Austrian company Palmer has been producing stockings and underwear. Now it has declared insolvency, but the sale is to continue.

Palmers is bankrupt, which opens restructuring proceedings at the Landesgericht Wiener Neustadt. The search for an investor continues. 90 percent of the loans from the pandemic are now paid by the state.

LINZ/WIENER NEADORF. The insolvency proceedings were opened on Friday. Criticism of a state-guaranteed Corona loan is becoming increasingly loud.

Austrian laundry clerk Palmers Textil AG has submitted an application for renovation in self-administration. There are 25 shops in Germany.

Palmers Textil AG announces a restructuring process with its own management. Discussions with potential investors could not be concluded in time. NÖ. The situation of the underwear company Palmers Textil AG has been precarious for several months. After all, the loss in the financial year 2023/24 has tripled to 14.7 million euros, the turnover decreased from 71.5 to 66.6 million euros. Thus, it was announced in recent months that the branches wer…