Home / Knowledge / News / Textiles / Neo Fashion to down its shutter by this week end
Neo Fashion to down its shutter by this week end
11
Jan '08
Neo Fashion Inc, a garment manufacturing unit in San Antonio, Saipan has declared its closure by January 13.

Although, 26 of the 82 foreign employees are making a move back to their home country, the remaining 62 would stay back and hunt for new employers.

The manufacturing unit had informed the Labor Ministry about its intention way back in November 2007, furnishing obvious reasons like adverse economic conditions brought about by the application of the federal minimum wage act, trade competition from China and other Asian neighboring countries, increased costs of conducting business in the Commonwealth of the Northern Mariana Islands (CNMI), and the lack of overseas orders.

This condition of textile units in Saipan is so piteous that Sam Kwang Saipan Corp and Poong in Saipan Inc will also close by January 16 and 28 respectively. With Neo Fashion's closure, the country will only be left with 13 garment factories conducting operations. Seven of these have already announced their planned closure this year.

Related news


Must ReadView All

Indian textile & apparel exports fall 13% in Jan 2018

Textiles | On 17th Feb 2018

Indian textile & apparel exports fall 13% in Jan 2018

A decline of 13 per cent year-on-year has been observed in the...

Brazilian cotton prices move up in first fortnight

Textiles | On 17th Feb 2018

Brazilian cotton prices move up in first fortnight

Cotton prices rose in Brazil in the first fortnight of February, as...

Courtesy: OrganoClick

Textiles | On 17th Feb 2018

OrganoClick introduces OrganoTex for water repellency

OrganoClick has introduced OrganoTex, a textile impregnation product...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Rupa Sood and Sharan Apparao
Nayaab

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

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 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.0%
No
13.0%
Skip
17.0%

Total Votes: 100

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.0%
No
30.0%
Skip
7.0%

Total Votes: 100

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.0%
No
9.0%
Skip
3.0%

Total Votes: 100

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.0%
No
8.0%
Skip
9.0%

Total Votes: 100


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search