Several Factories Plan Early Shutdown Before Chinese New Year in January
October 26, 2008 – 9:58 am
Many factories in China depend on the constant stream of orders for consumer goods. After the first major Sichuan earthquake, many factories and vendors decided not to re-build and re-open.
The ones that remained were cautiously optimistic that they could benefit from the decreased competition.
However, the U.S. economy is grinding to a screeching halt and several of the factories will shutdown a few week before the Chinese New Year and NOT re-open in February.
This could lead to empty shelves at some retailers as early as February 2009. In which case, their only choice may be to go out of business altogether.
