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Laminate manufacturer API files for bankruptcy

Alissa Demorest

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API Americas, supplier of laminates and foils for the luxury packaging sector among others industries, has filed for bankruptcy protection in the US. The supplier is hoping to find a buyer, according to industry reports. API’s UK business also entered into administration this month.

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Key Figures

+28%

Sales increase of the global second-hand luxury-goods market in 2022, amounting to €43bn in 2022. This growth rate is 1.3 times higher than for new luxury goods. While bricks-and-mortar resale stores still make up the bulk of second-hand sales, digital channels now control nearly 30% of the market. Source: Capgemini Engineering

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