Soex has a plan in place, but urgently needs investors
Specialist supplier of reuse and recycling services for textiles and footwear Soex is “not bankrupt, but fighting for a chance to survive”, its managing director, Marco de Gier, has said.
Following reports that the German division of the company had filed for administration, Mr de Gier said there was “a solid plan in place”, but that investment is “urgently required” to bring the plan to fruition and save an estimated 300 jobs.
He explained that the activity Soex wants to focus on going forward is the recycling of second-hand clothing that cannot be sold “in any market” at the moment.
“With the growing demand for materials like polyester and cotton,” Mr de Gier said, “this investment will not only provide a new revenue stream for our company but also help address a major challenge in the fashion industry.”
