Eterna announced on Tuesday that after the sales process initiated with the initiation of insolvency proceedings was ended without results, the continuation of business operations in Passau was ruled out. This is expected to be discontinued over the summer. The creditors’ committee has already approved the closure.
The interested parties would not have been willing to take over the company as a whole. However, the Eterna brand will continue with new owners. However, it is not yet known who secured the trademark.
Eterna was previously majority owned by the private equity company Golden Square Capital. In 2021, Robus Capital joined as an additional investor.
Insolvency proceedings opened
The Passau District Court opened insolvency proceedings for Eterna Mode GmbH on March 1, 2026 and ordered self-administration. Attorney Lucas Flöther, who has already supported the company during the preliminary proceedings, was appointed as the administrator.
Eterna filed for bankruptcy in mid-December 2025 after problems in the company’s transformation. The plan was to completely outsource the logistics and sell and then rent the company property. Since “some of the financial creditors secured on the property did not agree to the sale and lease back of the property,” the bankruptcy filing was then necessary. The search for buyers began at the beginning of the year.
“The continuation of Eterna Mode GmbH’s business operations has been successful since the bankruptcy filing in December 2025,” said the management. “But Germany’s fashion industry is going through difficult times. Sales are declining due to the weak economy, while costs for salaries, energy and other things have increased.”
This post was updated with additional background information on March 3, 2026 at 1:19 p.m.
