The Leeds Group, the company behind Nordhorn-based Hemmers-Itex Textile Import Export GmbH, has announced that Hemmers subsidiary Stoff-Ideen-KMR has gone bankrupt.
Local management have been reviewing the options available to the fabric wholesaler and its subsidiary Stoff-Ideen-KMR “to ensure the company is able to meet the ongoing challenges,” UK Leads Group said on Monday With.
Stoff-Ideen-KMR GmbH has made further losses in the current financial year and after an examination it was determined that the company was “unsustainable”. Therefore, insolvency proceedings were opened for Stoff-Ideen-KMR GmbH.
In this context, Hemmers should be brought back into the profit zone. Sales for the current year are in line with expectations, according to the Leeds Group.