The Dark Forest Furniture Company Ltd, owned by Café Coffee Day, has shut down its operations at the unit based in southern Karnataka state’s Chikmagalur region. The decision was taken due to the ongoing financial crunch, the company states on Monday.
“We regret to inform all the employees that business/manufacturing of dark forest furniture at Chikmagalur is closed from November 25 due to acute financial constraints and lack of orders,” company’s statement stated.
Following the suicide of founder and promoter V. G. Siddhartha on July 29, the company’s existing management made their efforts to revive the unit, the statement said.
The company further added that all workmen at the factory have been terminated with immediate effect.
“Consequently, the services of all the workmen working in the establishment stands terminated with effect from November 25 in view of the closure of business/manufacturing activity,” the company said in the statement.
The Coffee Day company said Dark Forest Furniture Company (DAFFCO) was single-handedly developed to provide employment to the local population, offering them training and skills for a higher level of efficiency.
In view of the extreme financial difficulties, DAFFCO said workmen’s compensation will be paid in due course of time subject to availability of funds.
(With input from agencies)