Clothesource Newslines

Chinese deny increasing export tax rebate – but increase some anyway

clothesource — Thu, 11 Jun 2009 10:58:49 +0000

China’s Minstry of Finance (MOF) announced a further increase in VAT export rebates on around 600 lines – just days after another ministry denied such plans.

The MOF made ../read moreabout:Chinese deny increasing export tax rebate – but increase some anyway03 Jun 09

Germany’s largest apparel retailer files for bankruptcy

clothesource — Thu, 11 Jun 2009 10:57:59 +0000

Germany’s Arcandor, which owns Karstadt and Quelle, filed for bankruptcy protection on June 9 after the German government rejected a request for loan guarantees.Arcandor, which employs about ../read moreabout:Germany’s largest apparel retailer files for bankruptcy03 Jun 09

Arcandor: Li & Fung claims minor profit hit

clothesource — Thu, 11 Jun 2009 10:56:52 +0000

Li & Fung stands to lose just US$5.4 mn from the Arcandor collapse, the buying group announced on June 10.With profits in 2008 of US$313 mn, the potential direct loss – the value of unpaid ../read moreabout:Arcandor: Li & Fung claims minor profit hit10 Jun 09

Fountain Set freezes expansion as losses double

clothesource — Thu, 11 Jun 2009 10:55:41 +0000

Fountain Set, one of the world’s largest circular knitting businesses, announced sales for the six months to February 28 19.1% down on 2008 at US$321 mn. Net profits appeared to be better, since ../read moreabout:Fountain Set freezes expansion as losses double10 Jun 09

Bangladeshis oppose foreign investment

clothesource — Thu, 11 Jun 2009 10:53:49 +0000

As Bangladesh garment manufacturers pitch for easier access to foreign markets, they continue to argue against non-Bangladeshi businesses setting up in their own country.Trade association BGMEA ../read moreabout:Bangladeshis oppose foreign investment03 Jun 09

Germany’s largest apparel retailer files for bankruptcy

clothesource — Tue, 09 Jun 2009 12:47:31 +0000

Germany’s Arcandor, which owns Karstadt and Quelle, filed for bankruptcy protection on June 9 after the German government rejected a request for loan guarantees.

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Bosideng continues menswear diversification programme

clothesource — Thu, 04 Jun 2009 05:15:21 +0000

China’s Bosideng International announced it has acquired Jiangsu Kangbo Garment, a menswear manufacturing business,Bosideng, which was built on making and retailing down jackets, had earlier made ../read moreabout:Bosideng continues menswear diversification programme03 Jun 09

Bangladesh spinners set up fabric mill as yarn makers get trade barriers

clothesource — Thu, 04 Jun 2009 04:57:31 +0000

Metro Spinning,a subsidiary of Bangladesh’s Maksons Group, announced plans to establish a new fabric mill with 8.7 mn yards annual capacity. “We hope to start commercial operations by September ../read moreabout:Bangladesh spinners set up fabric mill as yarn makers get trade barriers03 Jun 09

Nisshinbo moves into Indian manufacturing

clothesource — Thu, 04 Jun 2009 04:56:36 +0000

Japan’s Nisshinbo Textile. and Indian spinners Vardhman Group will set up a $3mn joint vebnture shirt production plant in Ludhiana in the Indian Punjab.Nisshinbo announced production would start in ../read moreabout:Nisshinbo moves into Indian manufacturing03 Jun 09

Indian textiles’ distressed loans double in four months

clothesource — Thu, 04 Jun 2009 04:55:28 +0000

Indian textiles’ distressed loans double in four months India’s clothing and textile businesses accounts for nearly a third of the $3 bn of corporate debt restructuring initiated by Indian companies in the twelve months to April 2009. The amount of loans ..

03 Jun 09