The insolvent German subsidiaries of the Swiss recycling group Texaid have taken a decisive step forward in their restructuring efforts.
The company announced on Wednesday that the restructuring plans for ReSales Textilhandels- und Recycling GmbH, Texaid Collection GmbH and Texaid Beteiligungsverwaltung Deutschland GmbH were unanimously approved by the creditors. This “clears the way for a comprehensive and sustainable realignment of the group”.
Dirk Andres, who acts as general representative in the ongoing insolvency proceedings, now sees good future prospects for the companies affected. “With the expected cancellation of the procedure on March 31, 2026, the Texaid Group Germany can leave self-administration and fully devote itself to its core task in circular waste management,” he explained in a statement. “The companies are now in a solid financial position and can go into the future stronger.”
Managing director Martin Böschen was also confident about the decision. “The broad approval of our creditors is a strong signal and a key milestone for our future course,” he emphasized. “In the past few months we have worked intensively together on viable solutions and have already implemented important renovation measures. Today’s decision confirms this path we have chosen.”
According to the company, the restructuring concept will “preserve more than 600 jobs and secure central services in the area of used textiles.”