Wednesday, 23 April 2025
Official admits Sathosa is bankrupt

Official admits Sathosa is bankrupt Featured

Finance head of Lanka Sathosa  - Asiri Fernando has admitted that the institution is facing bankruptcy after being unable to pay their suppliers.

Mr. Fernando has made this revelation yesterday (20) during a meeting held at the Sathosa headquarters in York Street, Colombo.

The meeting was held under the auspices of Sathosa Chairman Kiran Atapattu.

It is said that under this backdrop, it was decided to return the goods stored at the Sathosa Maligawatta distributing centre, back to the suppliers.

It was also decided at the meeting to look into the possibility of obtaining goods from suppliers under the basis of paying within 90 days.

Meanwhile, suppliers who are unable to receive payment from Sathosa are preparing set up a collective, 'Sri Lanka Mirror' learns.

Leave a comment

Make sure you enter all the required information, indicated by an asterisk (*). HTML code is not allowed.