Xinjiang La Chapelle Fashion Co., Ltd. Class H (HK:6116) has released an update.
Xinjiang La Chapelle Fashion Co., Ltd. is undergoing a bankruptcy reorganisation, as the Shanghai No.3 Intermediate People’s Court has accepted a liquidation petition due to the company’s inability to repay its debts. The company’s reorganisation process has seen the selection of an official investor and multiple extensions for submitting its draft reorganisation scheme, now due by 12 August 2024. Meanwhile, the company has sealed a Reorganisation Investment Agreement with new investors as part of its recovery efforts.
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