The District Court in Warsaw declared bankruptcy of TXM SA A few years ago, the company ran one of the largest retail store brands in the country. The reason that had the greatest impact on the termination of its activities was also indicated.
– The trustee in bankruptcy of TXM SA in bankruptcy informs that on November 7, 2022, the District Court for the Capital City of Warsaw in Warsaw, 18th Commercial Division for bankruptcy and restructuring cases regarding the Issuer’s application for bankruptcy of the Issuer (…) declared TXM SA bankrupt, we read in the company’s report.
Bankruptcy of TXM SA
The bankruptcy petition for the company was filed on April 30, 2022. The court announced its decision on November 7, 2022. It became final after a month – on December 7. In a published statement, the company indicated that the reason for its collapse was the “negative impact of the COVID-19 pandemic”.
The basic factors underlying the decision of the Management Board were the financial results and liquidity situation, determined over the last two years by the negative impact of the COVID-19 pandemic, and at the same time the lack of state support for TXM as an entity indisputably affected by the effects of the pandemic.
Five years ago, the company had 390 outlets across the country. In turn, in December 2021, their number decreased to 204.
