- Thursday, April 18, 2024
By: Eastern Eye Staff
US retailer Bed Bath & Beyond said it ordered an external audit of textiles from Welspun India, putting more pressure on the embattled Indian bedding and towel maker that has seen nearly half its market value wiped out this week. Welspun has been caught in a maelstrom after US retailing giant Target last week accused the Indian manufacturer of passing off cheap sheets as premium Egyptian cotton for two years. Target has said it is severing ties with the company, prompting other Welspun clients including Wal-Mart Stores and JC Penney to also probe the manufacturer. Welspun shares fell 10 per…
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