Sweden's Renewcell set out to enhance the sustainability of the fashion industry, but it filed for bankruptcy just a year later: ‘We were building the plane, flying it and then the runway ...
TPG Inc. - Class A (TPG)
Company Research
Source: Fortune
Launched in a repurposed paper mill in Sweden, the world's first industrial-scale textile-to-textile recycling plant represented a project of unparalleled ambition that would pave the way for an entire new industry. Just over a year later, on Feb. 26, Renewcell filed for bankruptcy. The decision came four months after the public company issued a profit warning over slow sales of Circulose, the biodegradable pulp it makes from worn-out clothes and cotton waste, which can be turned into fresh textile fiber. While Renewcell had signed supply agreements with two major fiber manufacturers — and could produce up to 60,000 metric tons of Circulose per year — it only sold 18,000 tons of the material in 2023, less than half of what it needed to break even. Multiple fiber manufacturers told Renewcell the same thing: They would only buy more pulp if fashion brands put in more orders for materials made from it. “We thought we had like two-thirds of the plant sold out, and for a variety of rea
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TPG
News
- Will TPG Inc. (TPG) Beat Estimates Again in Its Next Earnings Report? [Yahoo! Finance]Yahoo! Finance
- KBRA Publishes and Affirms Ratings for TPG Operating Group II, L.P. [Yahoo! Finance]Yahoo! Finance
- KBRA Publishes and Affirms Ratings for TPG Operating Group II, L.P.Business Wire
- Partners Said to Mull Techem Options After TPG's €6 Billion Bid [BNN Bloomberg (Canada)]BNN Bloomberg
- Sayari Closes $235 Million Strategic Investment from TPG, Inclusive of Additional Capital for Organic Growth and M&ABusiness Wire
TPG
Earnings
- 2/13/24 - Beat
TPG
Sec Filings
- 4/24/24 - Form DEFA14A
- 4/24/24 - Form DEF
- 4/24/24 - Form ARS
- TPG's page on the SEC website