Nassa Group, one of Bangladesh’s leading ready-made garment (RMG) manufacturers, is set to permanently shut down 16 of its 25 factories due to a severe financial crisis, leaving over 12,500 workers affected. The decision was finalized through a tripartite agreement signed on Tuesday at a meeting chaired by Arif Ahmed Khan,

Additional Inspector General of the Department of Inspection for Factories and Establishments (DIFE), held at Srama Bhaban in Dhaka. Representatives from workers’ associations, factory management, law enforcement, intelligence agencies, the industrial police, the Bangladesh Army, and the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) were present. As per the agreement, the closures will be officially declared today (Thursday), with workers’ wages for August and September 2025 to be paid by October 15 and October 30, respectively.

The total payout, estimated at around Tk 2.0 billion, includes wages, notice pay, service benefits, maternity leave entitlements, and other lawful dues, which must be settled by November 30. To raise the required funds, the group plans to sell a property in Gulshan. The agreement also ensures that workers will not be blacklisted in the national database and warns that legal action will be taken if the factory authorities fail to comply with the terms. This shutdown marks one of the largest single closures in the country’s RMG sector and raises concerns over the industry’s financial sustainability and labour protections.