Bradford Printing and Finishing, LLC has asked its workers at its Westerly plant to go on a long leave as the company has failed to recover the loss that it suffered due to heavy floods of 2010.
The textile finishing plant was commissioned in 1911 and engages in printing fabric for military uniforms.
However, the company intends to restart the plant, but is awaiting the receipt of the federal grant of US$ 700,000 to help it overcome the devastating effects of the flood.
Last year's devastating floods caused the plant to lose around four million USD, but so far the plant has only been able to regain only half the amount.
The plant operated on rented premises and had no insurance cover against floods. The company was then advised to cease business at that time itself, but it chose to carry on.
Bradford has already put in around two million USD worth of its own funds towards restoration and is now running short of funds. As such, arranging funds for the company has now become a key concern for it.
Fibre2fashion News Desk - India
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