The traditional Salzburg company Schneiders Clothing GmbH has gone bankrupt. The fashion company has debts of 10.5 million euros that cannot be paid. The opening of reorganization proceedings without self-government was introduced at the Salzburg Regional Court. 104 jobs are affected.
According to KSV1870 and AKV, one reason for the bankruptcy is the war in Ukraine. This led to total outages at the production sites in Ukraine. The strict Covid measures in China also played a negative role for wage workers. As per the current status, the company is being restructured and continued with a quota of 20 percent. The company currently has 104 employees. 255 creditors claim their money.
The company produces women’s and men’s clothing in the “luxury lifestyle” sector, with production taking place in outsourced sewing workshops. The head office and three branches are located in Salzburg. Scheiders has a branch in Vienna. The subsidiaries have branches in Bernau am Chiemsee and a showroom in New York. Schneiders is the 100 percent owner of Amadeus Fashion, Habsburg clothing manufacturer, Schneiders Clothing Freilassing and Schneiders Salzburg Inc. in New York City.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
