Coloreel Group AB files for bankruptcy
Coloreel Group AB, a pioneering Swedish technology company known for its instant thread dyeing technology, today announced that it has filed for bankruptcy. The decision comes after the company's inability to develop its business volume quickly enough and, related to this, secure the necessary financing.Despite many in-depth discussions with financial investors and potential industrial partners to secure additional funding, Coloreel has been unable to overcome its financial hurdles. Coloreel has aimed to transform the textile industry with unique coloring and design possibilities through