Sritex in Talks with Investors to Lease Assets Following Bankruptcy

SRITEX - 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.

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