Matrix Dresses shuts down despite efforts to keep it afloat

In a notice addressed to the employees, the factory's Managing Director Mahbubul Hasan Faisal said that despite various efforts to keep the organisation afloat, he ultimately could not succeed. He also mentioned that in addition to the business downturn, the crisis deepened due to the machinations of some vested interest groups.

The factory, established in 2012, had 150 machines. It mainly produced T-shirts and tank tops. After production was disrupted for the last two years due to various adversities, the decision was finally taken to shut down the factory.

Meanwhile, BKMEA President Mohammad Hatem said many establishments in the garment sector are struggling to survive due to the banking crisis, gas and electricity problems, declining orders, falling product prices and pressure of wage increases.

He claimed that more than 300 garment factories have closed in the country in the last two to three years. If effective steps are not taken to resolve the crisis, more factories may close in the future.