Vrede Textiles (Pty) Ltd is located in Atlantis, Western Cape Province. It was one of the companies that was said to be in distress and the committee identified it for oversight and to assess the status quo and developments after the financial intervention by the IDC. The IDC had been financially assisting the Vrede Textiles since 1997. During the period of assistance to this company, nine different loan facilities to the total sum of R21, 6 million were approved to Vrede Textiles.