Eterna, a venerable name in German textile manufacturing with a history stretching back to 1863, has announced the complete cessation of its operations. The company will permanently close all its production facilities and retail stores by the end of June, succumbing to the prevailing economic crisis that has impacted its business. This move by Eterna textile marks a significant development for the European textile sector.
As part of the liquidation process, Eterna is offering all products in its German stores at a 50% discount. The closure affects 400 employees at the company’s headquarters in Passau. Additionally, the brand’s 34 retail outlets nationwide will also be shuttered by the end of the month.
Industry analyses suggest that a confluence of factors, including escalating raw material costs, a sustained decline in sales volume, and pervasive global economic uncertainties, rendered Eterna’s operations unsustainable. This decision by Eterna textile follows similar circumstances that led to the closure of the German textile brand Domino.
The textile and apparel sector in Europe has witnessed a notable increase in bankruptcy and insolvency filings over the past two years. Experts caution that without a considerable improvement in economic conditions, further major brands within the industry may face withdrawal from the market in the foreseeable future. The Eterna textile operations cease is a stark reminder of these ongoing pressures.
