"Beximco Textiles shuts down all factories, workers laid off amid financial crisis", 27 February 2025

Beximco Textiles has officially closed all of its factories, resulting in the termination of its entire workforce effective 28th February. The decision... was made during a meeting of the Advisory Council Committee on Reviewing the Labour and Business Situation of Industrial Establishments in Beximco Industrial Park, chaired by Labour and Employment Adviser Brig Gen (retd) M Sakhawat Hossain...

According to a notice issued by Beximco, all workers at 14 facilities, including Beximco Limited (excluding Yarn Unit-1), have been laid off due to a lack of work resources. The layoffs, which began on 16th December 2024 and continued through 5th February 2025, culminated in the complete shutdown of operations on 28th February. The company has committed to paying the workers’ dues in phases starting 9th March, with funding provided by the Ministries Of Finance and Labour...

The company estimates it will require between Taka 550-600 crore to settle the outstanding wages in compliance with labour laws. Previously, Beximco had sought Taka 400 crore in assistance to maintain factory operations, but both the government and Janata Bank did not respond to the request.

The financial woes of Beximco Group are compounded by the ongoing legal troubles of its owner, Salman F Rahman, who has been imprisoned since 13th August following the fall of the Hasina-led Awami League Government. In September, the Criminal Investigation Department filed multiple cases against Beximco executives for alleged money laundering, further straining the company’s financial stability...