The Swiss textile group AG Cilander is on the verge of extinction.
On Thursday, the traditional company, founded in 1814, announced that it would stop production at the end of July. The closure will take place “at the end of August at the latest”. The company had had to fight “for several years against constantly rising costs and, in recent months, against a rapidly falling demand for textile products from home and abroad,” it said.
The decision that has now been announced was preceded by a consultation process, which, however, “did not produce a solution for the continuation of the entire company,” the company explained. At an extraordinary general meeting on Thursday, the shareholders “decided to discontinue business activities this year”.
However, Chairman of the Board of Directors Rolf Schmid hopes that at least individual operating units could have a future. “Unfortunately, it is not possible to continue the entire company. We deeply regret this,” he said in a statement. “At the moment we are concentrating on continuing certain areas under new owners. This could save up to 30 jobs.”