Small garment factories struggling to stay afloat
The dearth of work orders from international retailers and brands to small and medium-sized garment factories is so acute that many entrepreneurs are looking for buyers to sell units and exit the industry for good.
The fallouts of the coronavirus pandemic have brought the SME garment units to their knees as orders collapsed with the global drop in sales.
The units of the apparel industry, considered the lifeline of Bangladesh's economy, had faced abnormal delays in payment from buyers, order cancellations and suspensions and non-availability of loans from the stimulus package.
However, the large garment factories in this top export earning sector are faring better to some extent when it comes to getting orders, thanks to better coping mechanisms stemming from their large production facilities and ability to make shipments on time.