ZURICH – One of Germany’s largest textile recycling firms has filed for insolvency, the latest casualty in a waste textiles market facing growing financial strain. Texaid Beteiligungsverwaltung Deutschland confirmed that its subsidiaries Resales Textilhandels and Recycling GmbH and Texaid Collection GmbH have entered formal insolvency proceedings.
Both companies will continue operating during the process, and other Texaid group subsidiaries in Germany and Switzerland remain unaffected.
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