Gokaldas Exports on Monday, November 9, said one of the customers of its step-down subsidiary has filed for protection under the US bankruptcy norms.
The company, in an exchange filing, said The Children’s Place, Inc, one of the customers of Atraco Industrial Enterprise FZE, a step-down subsidiary of Gokaldas Exports, has filed for protection under Chapter 11 of the US Bankruptcy Code in the United States.
The company said that at the date of disclosure, Atraco Industrial Enterprise FZE had an outstanding receivable of $4.11 million from The Children’s Place Inc. It said the company is closely monitoring developments in this matter and is assessing the potential impact on its business and financials and will address it suitably.
On another note, Gokaldas Exports on Monday told CNBC-TV18 that it expects stronger growth in the financial eyar 2028, supported by its business in Africa and higher contribution from its acquired businesses.
The company’s MD and vice=chairman Sivaramkrishnan Ganapati said the restoration of duty-free access for African operations to the US has brought about greater clarity and led to a sharp rise in customer inquiries, particularly for its operations in Kenya. He said he expects the African business to regain momentum from the next financial year.
Shares of Gokaldas Exports ended the previous session 3% lower at ₹678 apiece. The stock has declined 7.4% in 2026, so far.
Also Read: Anthropic IPO: AI firm sends, then retracts IPO target documents, as per reports
Gokaldas Exports arm faces $4.11 million exposure as The Children’s Place files for US bankruptcy