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SACTWU investment in apparel unit turns sour
27 Jul '10
1 min read
An investment made by The SA Clothing and Textile Workers Union (SACTWU) to save a struggling intimate apparel unit from closure is planning to shutdown.
The Seardel Group has announced its intent to close down its Intimate Apparel division, based in Epping, by November 2010 on the last weekend.
SACTWU had invested R200 million of workers money, in the unit through its investment arm to save the jobs in the past, but now, exactly the opposite has taken place.
The Seardel Group has announced its intent to close down its Intimate Apparel division, based in Epping, by November 2010 on the last weekend.
SACTWU had invested R200 million of workers money, in the unit through its investment arm to save the jobs in the past, but now, exactly the opposite has taken place.
Fibre2fashion News Desk - India
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