Coloreel Group AB, the pioneering Swedish technology company known for its instant thread dyeing technology, has filed for bankruptcy.

The decision comes after the company’s inability to develop its business volume quickly enough in order to secure necessary financing.

Despite many in-depth discussions with financial investors and potential industrial partners, Coloreel has been unable to overcome its financial hurdles.

The company has aimed to transform the textile industry with unique colouring and design possibilities through a sustainable and efficient thread dyeing process.

Read the full story on Innovation in Textiles