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It is not known yet whether the bankruptcy of Kuifati Group which is specialized in Clothes is a direct consequence of the World Economical Crisis.
The group which is operating its activities from Aleppo, Syria has a lot of Factories which are in joint ventures with a lot of international firms especially in Europe . According to Industrial chamber of Aleppo, Kuifati Group has gotten loans from Syrian and regional banks and it is in a disability to pay it.
Some are estimating the loans by 50 million Dollars; however, there is no official numbers about the loans yet. Some of Syrians businessmen have blamed the Chinese exported clothes which has flooded the Syrian market in recent years. Kuifati group is employing more than 600 persons which their future is uncertain after the bankruptcy of the group.
