Heaptalk, Jakarta — After being declared bankrupt, PT Sri Rejeki Isman Tbk (SRIL) or Sritex announced that it has suspended operations for 2,500 employees working in the spinning, weaving, and finishing divisions due to the shortage in raw materials.
Sritex President Director Iwan Kurniawan Lukminto explained on Sunday (11/10) that since the bankruptcy decision, the company has been operating only by relying on existing material stocks. “This is due to issues with the movement of goods in and out. As of today, Sritex has had to suspend 2,500 employees working in spinning, weaving, and finishing due to a lack of raw materials, either since they are cannot be brought into the factory,” Iwan said.
The number of suspended employees could increase if, by next week, there is no decision from the curators or supervising judge regarding the continuation of operations. Iwan stated, “Since receiving the decision to cancel the homologation from the Semarang District Court on October 21, 2024, Sritex filed for cassation on October 25, 2024, hoping to win the cassation.”
He added that if Sritex wins the cassation, the company will survive, resume operations, rehire employees, and fulfill its obligations to stakeholders.
Currently, asset management, along with the administration and/or liquidation of the bankrupt estate, has been handed over to four appointed curators: Denny Ardiansyah, Nur Hidayat, Fajar Romy Gumilar, and Nurma Candra Yani Sadikin. Haruno Patriadi has been appointed as the supervising judge for this bankruptcy process.
“In this situation, management cannot do anything as the management of Sritex is now in the hands of the four curators. It is these curators, along with the supervising judge, who will determine the fate of Sritex and the future of tens of thousands of employees in the company,” Iwan added.
Sritex hopes that all parties involved will work with a shared spirit, considering the importance of continuing the business, ensuring the livelihood of 50,000 Sritex workers, and supporting other affected businesses, such as small and medium-sized enterprises (SMEs) that depend on Sritex. “We ask the government to pay attention, for the curators to work responsively, swiftly, cooperatively, and without unnecessary delays that would create unrest and prolonged communication issues,” Iwan concluded.
