Another Textile Company Closes in Costa Rica

The owner will rent the textile plant to a cooperative formed by the 300 employees who have been laid off.

Tuesday, March 12, 2013

The textile industry in Costa Rica has been in decline for the last eight years due to loss of international competitiveness, which has now been compounded by a fall in the dollar's value. These are the same reasons put forward by Michael Borg, owner of the textile company Borkar, on closing its operations in the country.

The former employees of this textile company decided to create Coopetrajes del Poas, a self-managed cooperative, who will perform their tasks in the current Borkar plant, which will closed in about a month.

According to Hubert Vasquez, president of Coopetrajes del Poás R.L., it will initially manufacture garments (coats and suits) that will be sold to a commercial company created by Michael Borg, owner of the textile Borkar.

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