Jakarta. Indonesian textile giant Sri Rezeki Isman, better known as Sritex, could resume operations within two weeks under new investors after being liquidated following a bankruptcy ruling, the curator team announced on Monday.

Sritex’s assets are currently managed by a court-appointed curator team after the Supreme Court upheld the company’s bankruptcy due to its failure to repay outstanding debts.

"We have established communication with potential investors who have contacted us. In the next two weeks, the curator will decide which investor is eligible to lease Sritex’s assets," said Nurma Sadikin, a representative from the curator team, during a press conference at the presidential palace in Jakarta.

The curator team is offering a lease option for Sritex’s heavy machinery, which could help preserve asset value while allowing the company to restart operations.

"The curator team offers an opportunity for the lease of heavy machinery to prevent further devaluation of our assets," Nurma explained.

The curator team remains hopeful that new investors will step in, allowing Sritex to restart operations and reclaim its position in the market.

If approved, the lease agreement could also enable Sritex to rehire workers, following the company’s formal decision to lay off more than 10,000 employees across its factories in Central Java on Saturday.

Sritex has since shut down its factories in Sukoharjo, Boyolali, and Semarang, marking a significant blow to Indonesia’s textile industry.

Founded 58 years ago, Sritex was one of Indonesia’s largest and most renowned textile manufacturers. The company was not only a domestic leader but also an international player, supplying camouflage military uniforms to NATO countries—a testament to its global reputation.

However, Sritex’s collapse comes at a challenging time for Indonesia’s textile and garment industry, which is struggling with declining export demand, rising operational costs, and growing competition from Vietnam and Bangladesh.

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