A court in the French city of Lille recently declared bankrupt French fashion chain Camaieu even as it is said to have shut all its stores subsequently.
This development has come as a big concern for Bangladesh garment makers about the recovery of their outstanding payments even as reports suggest Camaieu has had about US $ 300 million in annual business with Bangladeshi garment exporters.
Meanwhile, speaking to the media, sources from within BGMEA, reportedly, said they have no idea about how many companies have got how much money stuck with the French buyer, while expressing apprehensions this might impact not only the concerned garment exporters, but also the industry to some extent as Camaieu is a major buyer from French fashion market where Bangladesh’s annual exports currently stand at about US $ 2 billion.
BGMEA Vice-President Shahidullah Azim on his part has, reportedly, termed Camaieu going bankrupt “a matter of great concern” while assuring the BGMEA will ask all its members to provide information about their outstanding payments.
