Russian textile industry may face new wave of crisis and bankruptcies

The Russian textile industry could face a new wave of crisis and bankruptcies of local producers owing to a shortage of working capital and low demand for products on the domestic market.

Igor Ulyanov, executive director of the Russian Union of Entrepreneurs of Textile and Light Industry (Soyuzlegprom), said that up to 20% of large light industry enterprises will suspend their operations over the next few months owing to a shortage of financial resources.

For the full story, see the June 2017 edition of Textiles Eastern Europe. Not a subscriber? Sign up HERE