Declared Bankrupt, Sritex Says Has Registered Cassation

Court (Photo: Doc. unsplash)

JAKARTA - PT Sri Rejeki Isman Tbk (SRIL) or Sritex was declared bankrupt by the Semarang Commercial District Court (PN).

As for the certificate received, Sritex Management paid serious attention to the decision to cancel homologation declared by the Semarang Commercial District Court (PN) through case decision number 2 / Pdt.Sus Homologation / 2024 / PN Niaga Smg by Chief Justice Moch Ansor on Monday, October 21, 2024.

Sritex management respects the legal decision, and responds quickly by conducting internal consolidation and consolidation with relevant stakeholders.

"Today, we have registered an appeal to resolve this issue well and ensure the interests of stakeholders are fulfilled," he said in his statement, Friday, October 25.

Sritex said that this effort is a form of our responsibility to creditors, customers, employees and suppliers who have jointly supported the company's business for more than half a century.

"We will provide the best efforts in accordance with legal provisions," he said.

As for 58 years, Sritex has become part of the Indonesian textile industry and became the largest textile company in Southeast Asia, and has contributed to Solo Raya, Central Java and Indonesia.

In addition, currently there are around 14,112 SRIL employees who are directly affected, 50,000 employees in the Sritex Group, and countless other small and medium-sized businesses whose business continuity depends on Sritex's business activities.

Therefore, Sritex Management said it needed support from the government and other stakeholders in order to continue to contribute to the advancement of Indonesia's textile industry in the future.