PT Sri Rejeki Isman (Sritex) is in negotiations with potential investors to lease assets and potentially rehire laid-off employees. The company declared bankruptcy due to substantial debts and ceased operations on March 1. Curator Nurma Sadikin emphasized that discussions are ongoing, with a decision expected within weeks.
The embattled textile company PT Sri Rejeki Isman, or Sritex, is currently negotiating with potential investors who are interested in leasing the company’s assets. This initiative aims to facilitate the rehiring of some of the thousands of employees who were laid off after the company declared bankruptcy last year. The discussions on the leasing of Sritex’s industrial machines are being managed by a team of curators overseeing the company’s financial recovery.
Curator Nurma Sadikin has indicated that the selected investor will initiate a recruitment process for the reinstatement of laid-off workers, although it remains uncertain how many of them will be reemployed. Sadikin stated, “We are in active discussions. Within two weeks, we’ll decide which investor will lease Sritex’s assets,” during a press briefing held at the Presidential Palace.
Sritex was declared bankrupt late in the previous year due to significant debts amounting to Rp 29.8 trillion (approximately US$1.8 billion), owed to over 1,500 creditors. The company’s operations came to a halt on March 1, following an unsuccessful appeal against the bankruptcy ruling. The current efforts to engage new investors reflect a step towards potential recovery for Sritex and its workforce.
In summary, Sritex is actively seeking investors to lease its assets and facilitate the return of laid-off workers to their positions. The company, having been declared bankrupt, is exploring ways to mitigate the impact of its financial struggles. The forthcoming decisions regarding asset leasing and rehiring will significantly influence the future of the company and its employees.
Original Source: www.thejakartapost.com
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