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Bombay HC orders closure of S Kumars
The fight for survival of the once well-known name in stitching suits—S Kumars—has come to an end at the High Court, which has ordered its closure. The Bombay High Court has ordered liquidation of S Kumars’ nationwide assets and ordered the banks to appoint an official liquidator to recover debt. The company owes Rs 4,500 crore to 134 banks, including State Bank of India and ICICI Bank, and other financial institutions.
Passing the judgment on July 1, Justice BP Colabawalla gave four weeks’ time for the company to appeal against the order, and in the meanwhile, directed the banks to appoint the official liquidator to take charge of all the assets, properties, stock-in-trade, books of accounts and bank accounts of the company.
Big brands maintain lead
CMAI’s Apparel Index for January-March 2016 (Q4) indicates that the industry managed to clock in a moderate growth with an overall Index value of 3.79 points. Giant brands (with a turnover of above Rs 300 crore) and large Brands (with a turnover of above Rs 100 crore to Rs 300 crore) however, maintained their growth trajectory, even though their pace slowed down as compared to previous quarters.
Larger brands perform well
CMAI’s Apparel Index for October-December 2015 (Q3) shows the industry has maintained moderate growth with an overall index value of 4.64 points. Giant and large brands have continued their growth trajectory; however, the pace has slowed down compared to previous quarters. But they stayed ahead of small and mid brands.
Morarjee Textiles orders 1st Zinser 72 'made in India'
Post-ITMA Milan, Saurer Zinser has won an order from Morarjee Textiles for its latest machines, being made in India, and Saurer Schlafhorst has bagged an additional order for nine Autoconer 6 from a Tamil Nadu mill.
"We only offer products that are GOTS certified"
In 1996, the embroidery company Brands Polska sp. z.o.o. in the village of Somonino, near Gdansk in Poland was founded and continuously expanded with new finishing techniques. In 2002, Brands Fashion GmbH was founded as a textile trade and service company in the town of Buchholz in Lower Saxony, Germany with an extensive network of suppliers in Europe, Bangladesh, China, India, Indonesia and Pakistan.
Organic textile drive picks up steam
Does going organic make better business sense in textiles? This is one of the major questions that pop up today in every meeting bordering on sustainability in textiles. The humanity has to draw a line somewhere and say such & such textile products are harmless to the skin, environment and to life itself.
INDA announces programme for HYGIENIX
INDA, the Association of the Nonwoven Fabrics Industry, has announced the initial programme for the debut HYGIENIX, a premier event for the absorbent hygiene and personal care markets, which will be held between October 26-29 at the Renaissance Vinoy Resort in St. Petersburg, Florida.
F&A & Hometex visitors up 14%
By the time the 12th edition of the fabrics and accessories show, F&A Show 2015 and the 4th edition of home textiles fair- Hometex closed its doors on 14th March, more than 3,500 unique visitors had streamed through the KTPO gates in Bangalore, the venue of the twin shows, up 11 per cent from the 2014 editions.