CITACONOMIA : Economic and Business Studies
Vol. 5 No. 01 (2026): Januari-Maret

Reconstructing Stakeholder Trust in an Existential Crisis: A Conceptual Study of PT Sritex's Crisis Communication Management Post-Bankruptcy Decision

Nadia Pipit Safitri (Universitas Slamet Riyadi Surakarta)
Alfia Risma Kinanti (Universitas Slamet Riyadi Surakarta)
Julia Ari Safira (Universitas Slamet Riyadi Surakarta)
Pramudya Ibnu Subrata (Universitas Slamet Riyadi Surakarta)



Article Info

Publish Date
05 Apr 2026

Abstract

The global textile industry faced significant structural upheavals in the 2024–2025 period, placing strategic entities like PT Sri Rejeki Isman Tbk (Sritex) under extreme existential threats. This conceptual article examines the anomaly of corporate resilience where a formal bankruptcy status is met with massive social and political support rather than reputational collapse. Using a qualitative-descriptive approach, the study synthesizes Situational Crisis Communication Theory (SCCT) and Image Repair Theory with the realities of economic nationalism in developing economies. The analysis reveals that the integration of a "national interest" narrative and symbolic communication tactics—such as the "humanization" of the industrial giant through its workforce—functions as a powerful "human shield" against legal liquidation. The findings introduce the "Survival-Driven PR" model, which integrates legal defense, social support, and political lobbying as a cohesive defense mechanism. This research contributes to crisis management literature by redefining Public Relations as a strategic diplomatic instrument capable of converting social modality into political bargaining power. Ultimately, the study concludes that for "Too Big to Fail" entities, operational legitimacy is maintained by aligning corporate survival with national industrial sovereignty and the collective welfare of the labor force.

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Journal Info

Abbrev

CITACONOMIA

Publisher

Subject

Economics, Econometrics & Finance

Description

CITACONOMIA: Economic and Business Studies is a high quality open access peer reviewed research journal. providing a platform for the researchers, academicians, professional, practitioners and students to impart and share knowledge in the form of high quality empirical and theoretical research ...