The swimwear manufacturer Adolf Riedl is insolvent.
The traditional company, which has existed since 1947, has filed for bankruptcy. Corresponding preliminary insolvency proceedings for Adolf Riedl GmbH & Co. KG were ordered by the responsible district court in Bayreuth on November 5th, as can be seen from the insolvency notice. The court appointed lawyer Joachim Exner as provisional insolvency administrator.
The company’s economic difficulties have been apparent for some time. As the Nordbayerische Kurier reports, the swimwear manufacturer has suffered losses totaling around four million euros in the past three years. In addition, according to the report, the balance sheet total fell from over 15 million euros in 2022 to just under 12.8 million euros in 2023.
Adolf Riedl is the company behind the swimwear brands Sunfair, Olympia, Sunmarin and Wavebreaker. According to media reports, around 120 employees work at the swimwear manufacturer.