Palmers Textil AG slides into bankruptcy: 515 jobs affected

“For a positive continuation forecast at the end of January 2025, timely liquid means would have been necessary. An attempt was made to win investors who contribute to the financing. This was not a long time, which is why an application for introduction a renovation procedure with self -administration was introduced, “says the broadcast of Palmers. “Palmers Textil AG is already in close coordination with the interests of the employees: inside and works with high pressure on a timely payment of the still exclusive salaries for the more than 500 employees by the insolvency fee fund. Liabilities) are around 51 million euros. ”

The insolvency causes

Palmers led the strong competition in a very saturated market, the increase in interest rates, inflation and the associated loss of purchasing power.

Debt and assets

The entire liabilities will be loud Creditreform Processed with 69.19 million euros, of which 21.73 million euros are paid to banks and 12.47 million to deliveries and services. DIe assets are estimated at around 11.6 million euros, minus the right-wing and separation rights remain 8.79 million euros free assets.

“Palmer’s wealth management and Beteiligungs GmbH is to be mentioned in the claims to companies. “The cash as a result of January 31, 2025 was 535,500 euros.”

The corporate management of Palmers Textil AG is “confident that the company can be brought back to success in the medium term as part of the renovation process and the ongoing investor talks can be successfully completed. and re-positioning of the brand will be continued consistently “.

The AKV has summarized the history of Palmers:

• The applicant is a well -known traditional Austrian company, which was originally founded in 1915 by Ludwig Palmers as a shop for aprons and remains of fabric. After the First World War, the company specialized in stockings and developed into a leading provider of underwear and lingerie in Austria.
• Already 13 years after the foundation, the company operated 8 branches in Austria.
  In the 1930s, Walter Palmers followed his father and recognized the potential of the franchise concept, which enabled a successful expansion. After the death of his father in 1943, he officially took over the management.
• The name of Palmers stands not only for innovative products, but also for creative advertising. The poster scandal of the 1950s gave the company unexpected public publicity. And in the 1990s, Palmers again achieved international attention from provocative advertising campaigns that shaped the brand’s image.
• Since August 1991, the company has been managed in the legal form of a stock corporation under the company Palmers Textil Aktiengesellschaft. The share capital of EUR 2,981,926.80 is fully kept by P Tex Holding GmbH.