Gokaldas Exports Clarifies Customer Bankruptcy, Adds African Clients

Gokaldas Exports Limited has provided an update regarding its customer, The Children's Place, filing for Chapter 11 bankruptcy in the U.S. The company has outstanding receivables of USD 4.11 million from this customer, which contributes 5%-6% to Gokaldas Exports' consolidated income. Management anticipates a high probability of significant recovery. In parallel, Gokaldas Exports has onboarded two new major customers in its African operations (Atraco): a U.S. retail customer and a European customer. The company is reallocating capacity to scale production for these new clients.