The clothes factory scandal has sent shockwaves through the UK and its clothing industry, and some are saying the UK is losing out on an estimated $5 billion annually.
It has been widely criticized as the worst industrial disaster in its history.
“The clothes industry has been losing billions of pounds a year and we are losing millions,” said James Pardoe, managing director of international research and consulting firm WPI.
“It is a very difficult situation.
The factories that are operating now are being put under huge pressure and they have to do the best they can.”
Pardoe said the situation could get worse.
“I think it is likely that in the coming weeks we will see the impact of a very severe global economic downturn.
We have seen some of the most severe downturns in history and I think that could affect our ability to recover from this,” he said.
Pardosee said the textile industry in the UK has been working hard to try to find ways to reduce the number of factories in the country.
“In the past, we have been doing a lot of work with partners to try and reduce the amount of clothes in the factories, but in the last few years we have also been working with some of our largest manufacturers, like J.
Crew, to try make them more efficient and we think we have a good chance of doing that,” he told CNN.
Pardsoe said J. Crew was one of the largest garment companies in the world.
The company produces clothes for men’s, women’s and children’s clothing and for the likes of Gap, Calvin Klein and Levi Strauss.
“We believe the company should be able to produce more clothes in terms of quality and the value of their products and therefore, they have invested heavily in improving their factories,” Pardsoe added.
He said he expects to see the cost of doing business drop significantly as a result of the scandal.
“That is going to have a significant impact on the value that people will be willing to pay for their clothes,” he explained.
“They will be less likely to buy their clothes from a UK-based company because of the negative impact that they have had on the quality and reputation of the company,” Pardoseee said.
There are also concerns that some of these factories will not have enough money to pay the workers and suppliers.
Pardee said the factories in question have struggled to keep up with the changing demands of the market.
“There are some factories that have a lot more machinery and they are running out of the money to run that machinery and that has caused them to shut down,” he noted.
“Some of them have shut down completely.”
Pardsie said it is unlikely that all the factories are going to be able continue to produce the same amount of clothing.
“This is going in the wrong direction,” he added.
“It is going on in a way that is very damaging to the industry and to the jobs of the people who are involved.
The clothing industry is a major contributor to the economy of the United Kingdom.”
He said while the factories will have a tough time keeping up with demand, there is hope.
“Even if you think it might be a few years off, you can be optimistic that things will get better because there is a lot to be optimistic about,” he concluded.
Parks said that while he does not believe the factories and factories are fully operational, he does believe they will be able recover from the loss of the factories.
“As the economy has changed, so has the situation of the apparel industry, which has been very difficult for us,” he stressed.
“The factories have had to come up with ways to improve their work practices and there is going a lot that is going through their heads as they try to meet the new requirements of the new economy.”
Parks added that the government is looking at ways to ensure workers receive a decent wage.
“A lot of people are asking, ‘why are you paying us so little to do what we are supposed to do?’
The answer is, we want to see them pay their fair share,” he advised.