Garment Industry Faces Collapse in Asia — CNBC

The apparel industry was already showing signs of softening, and now COVID-19 disruptions may bring the industry in Asia to the point of collapse.

“’Across the entire industry, shops are closed, brands and retailers actually right now have an oversupply situation with whatever orders they have placed. They fear that they may not be able to sell it, so they are actually canceling orders or delaying shipments of orders,’ said Stanley Szeto, executive chairman of Lever Style, a Hong Kong-based garment-maker.”

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