Garment Factory Closure Sends Shockwaves Through Sri Lanka’s Export Economy Next closed; 1.400 job losses
The recent closure of the NEXT garment factory in Katunayake’s Free Trade Zone has dealt a significant blow to Sri Lanka’s apparel industry and its broader economy. Announced on May 19, 2025, the shutdown has resulted in the loss of around 1,400 jobs, nearly half of the company’s 2,800-strong workforce. The company cited rising operational…