Palmers in the Red

CompaniesRetail & Consumer ♦ Published: January 26, 2011; 00:05 ♦ (Vindobona)

The Austrian lingerie company has to accept operational losses in addition to an unprofitable acquisition.

Palmers in the Red / Picture: © Palmers

The situation remains tense for the luxury lingerie company. The acquisition of the French lingerie manufacturer Lejaby is proving to be more and more just a rescue case. The Lejaby group taken over in 2008 wrote losses for over € 5.0m in the fiscal year 2009/10, after € 8.2m in the previous year.

The consolidated financial statements 2009/10 show sales for € 170.8m, after…