Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Eterna, a German manufacturer of men's shirts and blouses in the textile sector, announced the closure of its headquarters in Passau, Germany, and the loss of around 400 jobs. The measure primarily affects employees at the company's main location; operations are to be discontinued in the summer of 2026 after no investor could be found to take over the entire company.
Insolvency proceedings under self-administration were initiated in December 2025. Despite an investor process involving several interested parties, no buyer came forward to take over the entire company, which is why it was decided to gradually wind down operations and the logistics structure. Only the “Eterna” trademark rights are to be sold to an investor. The company cited a difficult market environment in the fashion industry, declining sales, and rising costs as reasons for the restructuring.
The creditors' committee approved the closure of the business, with the final liquidation of the company to take place in the coming months.
Eterna was founded in 1863 and moved its headquarters to Passau in 1927. The company manufactures and distributes business clothing and most recently employed around 900 people worldwide.
Eurofound (2026), Eterna, Bankruptcy in Germany, factsheet number 204390, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/204390.