NRF: U.S. retailers look for "workable and sustainable" Bangladesh plan

05/15/2013 | MarketWatch · Reuters

Major U.S. retailers have declined to sign onto a binding five-year agreement designed to improve safety and working conditions at Bangladesh garment factories, which would commit the companies without giving them any control over how the group's money is spent. U.S. companies say the European retailers that signed ceded too much control to labor unions, and North American retailers may come together on a less-restrictive agreement, NRF said Wednesday. "Retailers are committed to a plan of action that is both workable and sustainable," NRF President and CEO Matthew Shay said.

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