Home / Knowledge / News / Textiles / Textile factory in Narva to go into liquidation
Textile factory in Narva to go into liquidation
08
Nov '10
Boras Wäfveri, the Swedish textile company running the 153-year-old Kreenholm textile factory, which is among the largest and longest-running enterprises in Narva, is going into liquidation.
Recently, the company announced that it is filing for bankruptcy for its Narva subsidiary, Kreenholmi Valduse AS which could render around 500 employees jobless in a city having 66,000 population that is facing economic crisis.

The factory is still running at loss, despite adopting cost-cutting measures. Increasing cotton prices and decreasing orders are the key issues which are creating trouble for the company. It had witnessed a loss of 3.3 million euros in the year 2007 and 50,000 euros in 2008.

Kreenholm textile factory was established in the year 1857 and became nationalized during the Soviet period. In the year 1980, it had employed over 11,000 workers and had been among the largest enterprises in northeast Estonia.

Fibre2fashion News Desk-India

Must ReadView All

Textiles | On 2nd Dec 2016

Indian currency crisis impacts global cotton market

The currency crisis in India, marked by insufficient supply of new...

Huang Wei from Fiber Raw Material Dept of Sinopec Chemical Commercial Holding speaking at the Forum

Textiles | On 2nd Dec 2016

Huge potential for nylon consumption: Experts

There is huge potential for increase in nylon consumption said...

Apparel/Garments | On 2nd Dec 2016

Aditya Birla Group to establish apparel unit in Odisha

Aditya Birla Retail and Fashion Ltd. (ABFRL) is establishing a new...

Interviews View All

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Suresh Patel
Sidwin Fabric

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Yash P. Kotak
Bombay Hemp Company

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search