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Bangladesh Fire Safety to Cost Retailers $3 Billion, Group Says

The global garment industry would have to spend about $3 billion over five years to bring safety standards at Bangladesh apparel factories to Western standards, an analysis by a labor-rights group shows.

The analysis, provided to Bloomberg News by the Worker Rights Consortium, comes after a fire at a factory that made garments for Wal-Mart Stores Inc. and Sears Holdings Corp. killed more than 100 people last month. Upgrading the country’s approximately 4,500 factories would cost the garment industry about 10 cents per garment, the group said.