Home / Knowledge / News / Textiles / Leading textile firm Tuntex ceases operations
Leading textile firm Tuntex ceases operations
09
Sep '11
Swaziland's leading textile firm Tuntex has ceased its operations rendering around 1,000 workers unemployed.

The factory at Matsapha, set up in October 1997 when the global textile market was booming, has now handed over letters to the last batch of 590 workers notifying them of their discharge from duties.

The Taiwanese company had set up two factories in Swaziland, but was required to shutdown one of them a few years back. The second factory is now operating with a bare minimum staff of 90 people, who were discharged along with 500 others, but have been re-employed on contractual or temporary basis to support winding up operations at the company.

The re-employed workers are presently working to execute a pending order from Dicks which is likely to conclude soon. However, the firm looks forward to retaining these employees if it receives new orders in the mean time.

Global economic slowdown joined by poor business administration, compelled the firm to cease business as there was a considerable fall in orders. The company was hit hard as it lost all its key orders owing to global slump.

Globally recognised European brands like Bonton, Adidas and Dicks were all included in the clientele list of the firm. But, when its major clients stopped placing bulk orders, the firm was required to reassess its business model resulting in the reduction of the workforce since beginning of the current year.

Initially, Tuntex started retrenching temporary staff as it expected to rehire them when the conditions get better. Unfortunately, things did not improve and the company has now started distributing severance allowances to its retrenched workers.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Li & Fung

Textiles | On 29th Mar 2017

Li & Fung introduces new 3-year plan 2017-2019

Li & Fung Limited has outlined its next Three-Year Plan (2017-2019)...

Courtesy: Carrington

Apparel/Garments | On 29th Mar 2017

Carrington Workwear signs JV with TMG Textiles

Carrington Workwear, one of the largest producers of workwear fabrics ...

Apparel/Garments | On 29th Mar 2017

Jabong launches Aeropostale on its platform

Jabong has added leading American high-street fashionwear brand,...

Interviews View All

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Dinaz Madhukar
DLF Emporio and DLF Promenade

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

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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
March 2017

March 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