TRZ Garments Industry Limited, an esteemed apparel manufacturer on Gacha Road in Gazipur, announced its closure on Tuesday (20th August).
According to BGMEA interim President Khandoker Rafiqul Islam, the company will also close its subsidiary companies, HN Garments Limited and Nowsin Garments Industries Limited.
According to BGMEA insiders, the main reasons for this closer are failures in mid-level management and non-cooperation by commercial banks.
They also mentioned that the factory owner intended to return to the firm after a short break, as it was his dream project. Due to a liquidity situation, the factory ceased all activities as of 26th June.
Rafiqul Islam, acting president of the BGMEA, stated that factory owner Haroon Ar Rashid sold his land to cover the workers’ claims.
He added that the owner is a good entrepreneur, and they expect to see this company return to operation.
Haroon Ar Rashid is also a member of the BGMEA Board of Directors. He founded the factory in 1999. Initially, with 400 people, the company grew to 5,000 employees and a 3,27,000-square-foot complex by 2009.
