The textile recycler Texaid has applied for bankruptcy proceedings in self -administration for two of its German subsidiaries.
For the Resales Textilhandels- und -Recycling GmbH and Texaid Collection GmbH, “a renovation procedure was initiated”, the German umbrella company Texaid Beteiligungsverwaltung Deutschland GmbH said on Tuesday at the request of Fashionunited. The company, which belongs to the Swiss Group Texaid Textilwertungs AG, confirmed corresponding media reports.
The step was “against the background of the current economic framework” and “serves the goal of making the two companies sustainable,” said Texaid in a statement. The business of the companies concerned, both of which are based in Apolda in Thuringia, will be “continued” without restriction.
At the same time, Texaid emphasized that all other groups in the group in Germany and Switzerland were “in no way affected by this procedure”.