Palmers on the abyss: Rescue by mysterious investor in sight?

Palmers on the abyss: Rescue by mysterious investor in sight?

In a dramatic turn, the traditional company Palmers is on the verge of bankruptcy. The renowned clothing manufacturer is faced with enormous financial difficulties, which are reinforced by massive losses of 14.7 million euros in the 2023/24 financial year. The income dropped from 71.5 million euros to only 66.6 million euros, and equity collapsed for worrying minus 2.6 million euros, as profile reports. The ongoing crisis forces Palmers to close numerous branches and to limit themselves to the markets in Austria, Germany and Croatia.

political reactions and possible rescue umbrellas

The bankruptcy has also triggered violent political reactions. Michael Sommer, economic spokesman for FPÖ Niederösterreich, criticized the current government sharply: "Austria's economy is fully destroyed by catastrophic economic policy of the worst federal government of all time". The FPÖ sees the bankruptcy as part of a major problem and calls for rethinking in economic policy, since the ÖVP has already caused autumn economic setbacks for the past few years, so ots.at

with a large debt mountain in the back, including a due loan of 14.4 million euros, the pressure on Palmers grows. On January 31, the decisive key date was to determine the company's fortexist. While the general meeting in January promised a ray of hope in the form of a potential new investor, it remains unclear whether it will actually use to rescue. Analysten zeigen sich skeptisch, ob die angekündigten Sparmaßnahmen und die Neupositionierung der Marke ausreichen werden, um die Wende herbeizuführen, berichten profil.at.

The next few weeks will be crucial, while negotiations with the lending bank and the shareholders will continue to worsen. If the financing is not secured, this could not only have significant consequences for Palmers, but also for many other companies that are in similar situations.