Despite the concerted push to establish a new fibre-to-fibre recycling industry in Europe in response to sweeping new legislative restrictions, a second major textile recycler has now been forced to file for bankruptcy.

Texaid Deutschland, headquartered in Darmstadt, Germany, has filed for insolvency proceedings in self-administration for its wholly-owned subsidiaries Resales and Texaid Collection, citing a prolonged and severe crisis facing the textile waste market.

This follows the insolvency filing of a second major European textile recycler, Berlin-headquartered Soex, last October.

Texaid Deutschland is a wholly owned subsidiary of the Swiss group Texaid Textilverwertungs AG and none of its other subsidiaries are affected by the new filing.

Resales operates what is now Germany’s largest sorting facility in Apolda and according to the most recently available figures, sorted roughly 16,600 tons of textile waste in 2022.

Texaid Collection has a nationwide network of collection containers for textiles and runs 50 retail shops for second-hand textiles in the German states of Berlin, Bavaria, Thuringia, Saxony, Saxony-Anhalt, Hesse, Rhineland-Palatinate and Hamburg, along with an online shop.

Texaid Deutschland generated revenues of €50.8 million and booked a consolidated net profit of €3.48 million in 2022. The company employed an average of 680 people during the reporting year.

www.texaid.de