Atlas bicycles company finally decides to shut down its great factory due to the impact of this lockdown

India’s pride Atlas cycles

As we know that during this lockdown , many employees had to lost their jobs and many company had to face this situation and trying to stand out in this situation .( Atlas bicycles company shutdown )

As we look at the present, everyday someone is losing his/her job and yet 9500+ jobs had been shut down. It looks like a curse. But all we need to do is just to stay calm.

Shut down of Atlas cycles:

Today, on worldwide cycle day, the great Indian bicycle company Atlas had to shut down his great factory in Haryana. Nearly 700-900 people became jobless. ( Atlas bicycles company shutdown )

atlas bicycles

picture taken from news11.com

Issuing a statement, the company said that was is not in a position to resume manufacturing operations due to financial constraints, and as such, it had decided to close down its Sahibabad unit.

The Haryana-based company, which started manufacturing bicycles in 1951, had already closed down two units in 2014 and 2018.

While in December 2014, its Malanpur unit in Madhya Pradesh was closed down, it suspended manufacturing at its Sonipat unit in 2018.

atlas bicycles

picture taken from newsindus.com

But with the closure of Sahibabad unit, the company has closed down its last factory.

“Post lifting of lockdown with effect from June 1, 2020, Sahibabad unit of the company is not in a position to resume manufacturing operations due to financial constraints.

Hence, the workforce of Sahibabad unit of the company will be laid off with effect from June 3, 2020, till adequate arrangement of funds is made,” the company said.

The company said that due to severe cash crunch, it was difficult for the company to even procure raw materials.

As we also know that on the 22nd of January, 2020 ; Natasha Kapur attempted suicide by leaving a half page suicide note . Read more in  Natasha Kapur. 

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About Jasmine Kaur 69 Articles
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