Mysuru: Apropos to the news item titled ‘Workers seek Siddharamaiah’s help to save Reid & Taylor factory’ published in SOM dated Jan.10 (page-5), the Reid & Taylor Employees Union has issued a clarification in respect of the representation made to Siddharamaiah.

In a press release, the Union said that as per its information, it was not that serious in repayment of loans, but the incurrence of huge losses, in new business ventures, that had led to the default in repayment of loans.

The release further said that the Union was apprehensive that a responsible person heading the operations management of the company seems to be pushing the company into liquidation for his own personal gains.

Also, one of the financial creditors by name Finquest Financial Solutions (P) Ltd., is pressing for liquidation of the company. All these developments have pushed the workers, who have toiled for the factory for many years, to stare at an uncertain future.

Under these circumstances, the Union is making all efforts to save the factory and its department workers, the release said.