The insolvent laundry manufacturer Palmers Textil AG is taken over by the Danish company Change of Scandinavia.
The continuation of Palmers was secured by the investor entry, a spokesman for Palmers said. The traditional Austrian company declared itself insolvent in February. Change of Scandinavia produces and sells Change Lingerie under the fashion brand, especially women’s underwear.
The creditors: Inside, the repayment of a total of 20 percent of their claims could now expect a total of 20 percent within two years. If the agreed overall quota is fulfilled, the company is finally freed from its financial contaminated sites, said a spokesman for the KSV1870 credit protection association.
In the 2023/2024 financial year, the losses at Palmers had more than tripled to 14.7 million euros. The company was founded in 1915 and, according to the company, still has around 350 employees: inside. Of the 160 branches, there are more than 120 in Austria, about a dozen shops are also available in Germany.