MONETABRIEF – Sri Lanka's Hela Clothing had sought a court order to wind up the group as it was unable to pay its debt, the firm said in a stock exchange filing.
The board of directors of Hela Apparel Holdings Plc had concluded that the "Company and its subsidiaries Hela Clothing (Private) Limited and Foundation Garments (Private) Limited are not able to pay their debts by reason of their liabilities and continuing liquidity constraints."
As a result the company was to continue in business.
The Board had passed a resolution on August 04, and applied to the Commercial High Court of the Western Province on August 05.
Hela Clothing (Private Limited) and Foundation Garments (Private) Limited have also made applications to wind up. (Colombo/Aug06/2026)