5,000 Former Sritex Employees to Be Rehired by New Investor

A total of 5,000 former employees of Sritex Group, who were previously laid off, are set to be rehired by a new investor. The Head of the Sukoharjo Regency Industry and Manpower Office (Disperinaker), Sumarno, stated that this recruitment process will be carried out in phases, with the first batch consisting of 5,000 workers.

"The next phase will involve additional recruitment, covering employees in spinning, weaving, and finishing divisions. I believe all departments can be accommodated," said Sumarno, as quoted by Antara on Tuesday (March 18, 2025).

However, Sumarno has not yet disclosed the identity of the investor who will take over Sritex's factory operations. "There has been no official written statement to us, so we cannot provide further details. They have only expressed their interest, but no formal agreements have been made," he explained.

Factory Operations Depend on Investor and Curator Agreements

Sumarno emphasized that the operational management of the company will be entirely handled between the investor and the curators. "We are only regional authorities. If an investor intends to resume operations, it will depend on their negotiations with the curators," he stated.

Regarding holiday allowances (THR) for former Sritex employees, Sumarno assured that an agreement has been reached between the workers' union and the Sritex Task Force. Severance pay and THR will be disbursed following the liquidation of the company's bankrupt assets.

"This has been clear from the beginning, and we are only acting as witnesses in the process. God willing, THR will still be given," he said. "Right now, the assets are undergoing appraisal, after which they will be put up for auction. The mechanism—whether through leasing or another method—is still being discussed," he added.

Bankrupt Assets to Be Leased Before Auction

Previously, Bisnis reported that the Sritex bankruptcy curators had opened an option to lease the company’s heavy machinery assets to new investors. This step aims to keep the machines running and maintain the asset value during the auction process.

"So before the auction takes place, we are leasing the equipment to ensure that the machines remain operational and to enhance the value of the bankrupt assets before they transition to new ownership," said Sritex curator team representative Nurma Sadiqin on Monday (March 3, 2025).

However, Nurma clarified that former Sritex employees rehired by the new investor would only be working temporarily. "Yes, that's correct, only on a temporary basis. The new auction winner will ultimately take over the operations once they officially acquire ownership," she explained.