Having Escaped Bankruptcy, Can Sritex’s Business Survive?

By Editorial Team 25/01/2022
Bankruptcy bailout
Summary

Textile giant PT Sri Rejeki Isman Tbk (SRIL) or Sritex is finally free from bankruptcy after all its creditors agree to the reconciliation scheme offered by the company. This was decided in a weekend meeting on debt restructuring (PKPU).

"Based on the results of the voting during a meeting on January 21, 2022, the majority of creditors agreed to the peace plan submitted by Sritex," Sritex PKPU Management Team Member Martin Patrick Nagel explained to CNBC Indonesia on Monday (1/24).

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