Bank puts leather goods firm up for sale
16/04/2002
The Bangladesh Shilpa Bank (BSB) has announced that all the mortgaged property of leather goods producer Fair Industrial Complex Limited, Rajshahi, including all land, building and machinery is to be sold by auction to recover debts.
According to the statement the factory has annual production capacity of 150,400 pieces of leather goods. The facility will be sold on cash payment on an "as is, where is" basis in order to realise BSB's loan arrears and debts, which totalled Tk 1053.5 million ($18.4 million) at the end of 2001, plus additional interest and other expenses. The closing date for bids is April 22, 2002.
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