Eterna – a well-known brand of shirts and blouses also present in Poland – announced bankruptcy last year, and now the final stage of its operations is underway: mass sales of goods and gradual closing of stationary stores. Despite strenuous efforts, it was not possible to find a buyer who would like to take over the insolvent textile manufacturer in its entirety. “The sale process, initiated by the initiation of bankruptcy proceedings, ended unsuccessfully,” the company's management board said in a statement, quoted by “Merkur”.
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Stores disappear, the brand remains
All Eterna stores are to be closed by the end of June. As the spokesman for the bankruptcy trustee told “Merkur”, there are currently 34 brand stores still operating. The spokesman also said that the remaining goods will be sold at large discounts.
However, the Eterna brand itself will not cease to exist – the rights to it have been purchased by the T-shirt manufacturer Olymp. “The acquisition of rights to the trademark opens up additional opportunities in the brand portfolio,” an Olymp spokesman explained to Merkur. However, he did not provide details about the future of the brand.
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Eterna – a manufacturer of shirts and blouses – was established over 160 years ago in Vienna, initially as a textile workshop and linen factory. Its current headquarters in Passau opened in 1927. Eterna was one of the few traditional companies in the once-thriving German clothing industry, but it had been struggling with financial problems for a long time. The company carried out the first restructuring proceedings in 2021. It managed to stabilize the situation and continue its operations, but a few years later another crisis came and bankruptcy proceedings were the only solution.
