Schneiders Clothing recently filed for bankruptcy. The traditional Austrian company is not alone in this: many end up with only a small amount left over.
Austria without dirndls and lederhosen? Unimaginable. The many folk costume companies make an important contribution to Austrian culture and some are even highly regarded internationally. So far also the Salzburg clothing manufacturer Schneiders, which since 1946 has shaped generations of people with quality fashion from Austria.
That is now over, because last Tuesday the company announced bankruptcy. The reasons: Due to the war in Ukraine and the consequences of the corona virus, production in the contract factories in China and Ukraine could not be continued. Schneiders is not an isolated case.
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.
