More than 2,000 workers could lose their jobs following a decision to liquidate Norwood Fashion (Private) Limited in Sri Lanka. The company’s management concealed from workers until late October a court ruling issued by the Colombo Commercial High Court earlier this year ordering the liquidation of the company due to its failure to repay bank loans.
Established in 2014, Norwood Fashion manufactured garments primarily for export to the United States, Britain and European Union countries. It operated two factories, in Hatton in the central hill plantation area and in Polgahawela in Kurunegala.
The Hatton factory closed on October 2, eliminating more than 200 jobs. About…