Home / Knowledge / News / Apparel/Garments / Bankruptcy forces three more garment units to close down
Bankruptcy forces three more garment units to close down
24
Apr '10
Three more garment factories, located in Phnom Penh and owned by Korean and Taiwanese investors, downed their shutters this year in the month of February on account of owners' bankruptcy. These closures left around 3,000 workers without jobs.

Over 70,000 workers have lost their jobs since 2006. Most of them went to foreign countries in search of work and the rest have taken up jobs at night clubs or karaoke parlors. And, the owners of closed factories are investing in countries like, Vietnam and Bangladesh.

The factory owners faced difficulties due to lack of orders and they had to spend more on production. The workers were also facing harsh conditions due to low salaries.

However, since the beginning of 2009 to March 2010, of the 122 factories which witnessed shut down, rendering 53,057 workers jobless, 67 of these have recommenced their operations and employed 19,772 workers back. This shows that the global crises is cooling down and with this, the garment sector is likely to see recovery.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Aptos

Information Technology | On 25th Feb 2017

Tailored Brands selects Aptos sales audit solution

Aptos, Inc., a market leader in retail technology solutions, has...

Information Technology | On 25th Feb 2017

One Jeanswear Group deploys Centric PLM suite

Centric Software, the leading PLM solution for fashion, retail,...

Courtesy: Applied DNA Sciences

Apparel/Garments | On 24th Feb 2017

SigNatureT DNA can help prevent apparel counterfeiting

SigNatureT DNA is forensic molecular tag by Applied DNA Sciences...

Interviews View All

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search