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TEMPO.CO, Jakarta - Indonesia's troubled textile firm PT Sri Rejeki Isman, or Sritex, is in talks with potential investors to take over assets under a lease scheme, the company's curator said on Monday.
Sritex was declared bankrupt at the end of last year as it struggled to service its debts, which reached $1.6 billion in June. It stopped operations on March 1 after failing in its appeal against the bankruptcy ruling.
"We have opened the options to lease (Sritex) heavy to increase the bankruptcy assets and prevent its value from falling," Nurma Sadikin, the curator of Sritex, told a press conference.
She said they have been communicating with some investors and will decide in two weeks who will lease the assets. The lease option might also create an opportunity for Sritex's workers to be rehired, she added.
About 10,000 Sritex workers were facing layoffs due to the bankruptcy, several local media outlets reported. The government said it will ensure the rights of the impacted workers are protected post-layoff.
REUTERS
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