On Friday the salaries of around 500 Palmers employees were no longer paid. It is now known that the traditional company has registered “as precautions” terminals with the AMS Premature Warning System.
It was not known for the time or and to what extent it actually takes place. “The highest priority is a sustainable continuation of the company and guaranteeing the workplaces of the employees,” the company said.
It was reported on Saturday that a new investor would be sought. “If this entry is made, it is planned to make a capital increase,” the company said. The extra resources would be bitter. In the 2023/24 financial year, the loss had more than tripled to 14.7 million euros. Turnover fell from 71.5 million to 66.6 million euros.
High millions of loans
In the middle of the year, Palmer also had to refinance high million loans. “An important assumption for the positive prediction of existence is the negotiation of the loans for 14.418 million euros (COFAG) on 30 June 2025,” the company said in the fall.
Palmers AG belongs to 100 percent of P Tex possession. This is in turn owned by LUCA (22.2 percent) and Tino Wieser (27.7 percent), who also manage P Tex Holding directors. The remaining 50 percent belongs to the CFA Contact Finance and Commercial Stock Company (CFA AG) based in Liechtenstein.
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.
