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Texaid Deutschland files for insolvency amid ongoing textiles waste crisis

Texaid Deutschland, a key player in the waste textiles market, has filed for insolvency proceedings under self-administration for its wholly-owned subsidiaries Resales Textilhandels- und -recycling GmbH and Texaid Collection GmbH. The company cited the ongoing challenges in the sector as the primary reason behind the decision, aiming to safeguard the long-term viability of both subsidiaries.

Despite this move, Texaid Deutschland assured that the insolvency proceedings would not impact any other group subsidiaries in Germany or Switzerland. Both Resales and Texaid Collection will continue operations without disruption, ensuring their services remain unaffected.

Dr. Peter Staufenbiel has been appointed as the preliminary insolvency administrator for the case. Texaid Deutschland is part of the Swiss group Texaid Textilverwertungs-AG, a major player in textile recycling.

Resales operates Germany’s largest textile sorting facility located in Apolda, which processed approximately 16,600 tonnes of waste textiles in 2022. Texaid Collection manages a nationwide network of textile collection containers and runs 50 second-hand retail shops across Germany. Additionally, the company operates an online store offering pre-owned textiles.

In 2022, Texaid Deutschland reported revenues of €50.8 million and a net profit of €3.48 million. The company employed an average of 680 people during that year.

This move follows a similar action taken by another large German waste textiles company, Soex, which filed for insolvency last October. Soex ultimately closed its sorting facility in Bitterfeld-Wolfen, confirming concerns within the industry regarding the future of textile sorting and collection infrastructure.

The challenges faced by Texaid Deutschland highlight the ongoing struggles within the waste textiles sector, a market still reeling from economic pressures and supply chain difficulties. The outcome of the insolvency proceedings will be closely watched by industry stakeholders.

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