Bank Moves to Auction Beximco Factories, Throwing Textile Giant’s Future Into Doubt

The future of one of Bangladesh’s largest vertically integrated textile and garment manufacturers looks bleak. State-owned Janata Bank has moved to auction several Beximco Limited factories, despite the Ministry of Labour and Employment in Bangladesh’s efforts to reopen the factories through a tripartite international lease agreement. More from Sourcing Journal The auction notices were issued a day after the bank’s Nov. 20 board meeting, which was supposed to focus on approving the draft for a $20 millio ...