TRZ Garments Industry announces closure
TRZ Garments Industry Limited, a prominent clothing manufacturer based on Gacha Road, Gazipur, announced its closure on Tuesday (20 August).
The company, which also operates two sister companies, HN Garments Limited and Nowsin Garments Industries Limited, has confirmed that these ventures will be closing as well, according to BGMEA acting President Khandoker Rafiqul Islam.
Failure of mid-level management and non-cooperation from commercial banks are the key reasons for this closer, said BGMEA sources.
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They also mentioned that the factory owner has also planned to return to the business after a short time, it was his dream project.
The factory has suspended all activities from 26 June, due to a liquidity crisis.
BGMEA acting president Rafiqul Islam said the factory owner Haroon Ar Rashid sold his property to settle the workers' liabilities.
He is a capable entrepreneur, and they hope this company will return to the business.
Haroon Ar Rashid is also a member of the BGMEA board of directors.
He established this factory in 1999. Initially starting with 400 workers, the company expanded to 5,000 employees and a 3,27,000-square-foot facility in 2009.
