The next bankruptcy of a traditional company: Unterwäsch manufacturer Palmers has now officially applied for bankruptcy. Now the continuation of the company must succeed as part of a renovation process.
The traditional company has already terminated “as a precautionary measure” from hundreds of employees to the AMS -Premature Warning System.
High million loans will soon be due
In the financial year 2023/24, the loss of 14.7 million euros was more than tripled, the negative equity was around 2.7 million euros. Turnover fell from 71.5 million to EUR 66.6 million. In the middle of the current year, Palmer also has 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.
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.
