Solo. Indonesia’s textile giant Sri Rejeki Isman (Sritex) will cease all factory operations in Central Java on Saturday, following a bankruptcy ruling over its failure to repay debts. The shutdown of the country’s largest textile company will affect more than 10,000 workers across the province.
The Supreme Court recently rejected Sritex’s appeal, upholding the Semarang District Court’s ruling that declared the company bankrupt on October 21. Meanwhile, the government’s promise of assistance failed to provide a viable rescue plan, sealing the company’s fate.
Emotional Farewell for Thousands of Workers
Thousands of employees bid farewell to their workplace on Friday, gathering at the Sritex factory…
