The textile conglomerate from Solo, Sritex Group, seems to be struggling with the status of postponing debt payment obligations (PKPU).

The reason is, one of its business entities, namely PT Senang Kharisma Tekstil (SKT), has been decided by PKPU by the Semarang District Court (PN). The reading of the PKPU PT SKT decision was carried out in a hearing that was held this Tuesday afternoon.

"Have broken. Kabul, "said Public Relations of Semarang District Court Eko Budi Supriyanto, Tuesday (25/5/2021).

The six companies include PT Sri Rejeki Isman Tbk (SRIL), PT Rayon Utama Makmur (RUM), PT Sinar Pantja Djaja, PT Bitratex Industries, PT Primayudha Mandirijaya, and PT Senang Kharisma Textile.

Interestingly, the lawsuit filed against the six Sritex Group companies was filed by four different parties ranging from PT Swadaya Graha, CV Prima Karya, Bank QNB Indonesia, PT Nutek Kawan Mas and a cargo company namely PT Indo Bahari Ekspress.

SRIL and its three business entities, namely PT Sinar Pantja Djaja, PT Bitratex Industries, and PT Primayudha Mandirijaya, officially became PKPU on 6 May. Likewise with its rayon fiber raw material factory, PT RUM, which had PKPU status on the same date.

Meanwhile, the last Sritex business entity with PKPU status is PT Senang Kharisma Textil. Having escaped the lawsuit of PT Bank QNB Indonesia, PT SKT was unable to withhold PKPU's request from Nutek Kawan Mas.

Sritex management, especially from SRIL, in various reports to the stock exchange authorities, ensures that the company will resolve the PKPU issue properly and in accordance with applicable legal corridors.