Xinjiang La Chapelle Fashion Co., Ltd. Class H (HK:6116) has released an update.
Xinjiang La Chapelle Fashion Co., Ltd., currently in reorganisation, announced its ongoing bankruptcy reorganisation process, which included the selection of an official reorganisation investor and the extension of the deadline for submitting its draft reorganisation scheme to August 12, 2024. The company is addressing new developments, such as an application for substantive consolidation with 32 related companies, which could affect the reorganisation plan. This follows a series of legal and administrative steps in response to a creditor’s liquidation petition due to the company’s inability to meet its debt obligations.
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