Zimbabwe's largest textile company, David Whitehead Textiles Ltd, engaged in manufacturing textiles, printing and dyeing fabrics will close down its shutters leaving almost 1,400 workers without job.
The company, filed for provisional liquidation with the High Court by saying that it would no longer, be able to pay wages, as the National Employment Council for the textile industry hiked salaries by 66 percent.
Other factors such as increased electricity costs and competition from cheaper imported fabrics also increased the financial troubles for the company.
It is expected that the closure of David Whitehead will affect the related industries in retail, furniture and medical sector, negatively.
Fibre2fashion News Desk - India
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