The manufacturing unit within the Katunayake industrial zone, western Sri Lanka, has been in operation for greater than 40 years, in line with native stories on 21 Could, however is now closing on account of excessive working prices.
“This has been a really tough choice for the corporate and has been taken after exploring all different choices,” David Reay, Subsequent’s director of producing, stated in an announcement to native information shops.
“On the coronary heart of this choice is the more and more excessive working value of the Katunayake Manufacturing Plant.
“For some years now, the plant has been unprofitable, and regardless of our appreciable efforts to rectify the state of affairs, we’ve got been unable to make the manufacturing unit economically viable. Just lately, it has turn out to be clear that there isn’t any prospect of this altering.”
On 8 Could, Subsequent elevated its revenue steering for the complete yr following a “better-than-expected” efficiency within the 13 weeks to 26 April.
Drapers has contacted Subsequent for remark.
