The full story of Hela Apparel’s collapse extending to Kenya
Media reports have stated that Hela Apparel Holdings PLC, one of Sri Lanka’s leading apparel export companies, has filed a petition seeking an order from the Western Province Commercial High Court to wind up the company.
The company has informed the Colombo Stock Exchange (CSE) that it has become unable to meet its debt obligations due to prolonged liquidity difficulties, and that all available options, including debt restructuring, finding new investors and selling assets, had been explored but proved unsuccessful.
Accordingly, on 5 August 2026, separate winding-up petitions were filed before the Commercial High Court in respect of Hela Apparel Holdings PLC and its two main subsidiaries, Hela Clothing (Pvt) Ltd and Foundation Garments (Pvt) Ltd.
Impact on overseas investments, including Kenya
Hela Apparel Holdings PLC is an international apparel group that had expanded its manufacturing network beyond Sri Lanka t

