Austrian Lingerie Brand Palmers Declares Insolvency

The 110-year-old company cites mounting losses, inflation, and competition as key factors behind its financial struggles.

Palmers Textil AG, a historic Austrian lingerie manufacturer, has filed for insolvency following significant financial losses.
The company reported a tripling of its annual losses to €14.7 million in the 2023/2024 fiscal year.
Palmers attributes its financial difficulties to inflation, reduced consumer spending, and competition from low-cost rivals.
Despite the insolvency filing, Palmers plans to continue operations and retain its 500 employees and 100 international stores, including 15 in Germany.
The company is negotiating the restructuring of a €14 million COVID-era loan due in June 2025, with public support potentially playing a role in refinancing.