Future of Palmers: Creditor meeting brings hope for employees!

Future of Palmers: Creditor meeting brings hope for employees!

In the insolvency process of the Austrian laundry company "Palmers", the first course was set for the future on March 4, 2025. At a creditor meeting at the Wiener Neustadt regional court, the insolvency administrator Maria-Christina Nau announced that the company's self-administration was maintained. This means that the financial and organizational control remains in the current management, which seems advantageous for many creditors, according to the Alpine Virabor Association (AKV) and Creditreform. Around 500 employees across Austria are affected by bankruptcy and fear for their workplace.

36 deficit branches have already been closed as part of the renovation measures. According to AKV, some employees can be taken over in other locations, which could partially cushion the loss of jobs. While the company currently has 114 branches and 515 employees, there is also the possibility of ending uneconomical franchise contracts. Talks with three Austrian investors run to ensure the necessary financial support for the continuation of the company. Without financial support, however, a sustainable rescue of "Palmers" is not possible, as the company emphasizes, and the liabilities amount to a proud 51 million euros, such as Nachrichten reported.

customers and creditors must act

Customers who are owned by "Palmers" vouchers or "Palmers coins" are called to be active. These vouchers must either be handed over to a believer representative or sent directly to "Palmers" in order to remain valid. The deadline for submitting claims ends on April 8, 2025. As early as April 22, 2025, the next day statute is pending, while the renovation plan day statute for May 6, 2025 is scheduled. The renovation plan provides for a quota of 30 percent within the next two years, and the final future of "Palmers" will choose in the coming weeks.