Caixin
Nov 21, 2018 07:55 AM
BUSINESS & TECH

Suppliers Sue for Bankruptcy Reorganization of Gionee

Gionee’s China market share slid to 4.8% in 2017 from 6.6% a year earlier. Photo: VCG
Gionee’s China market share slid to 4.8% in 2017 from 6.6% a year earlier. Photo: VCG

Panicked suppliers of Chinese smartphone maker Gionee Communication Equipment Co. sued for a bankruptcy reorganization of the debt-swamped company in hopes of recouping some of their losses.

Nearly 20 suppliers of Shenzhen-based Gionee Tuesday asked the Shenzhen Intermediate People's Court to step in after the second-tier smartphone maker made little progress in months of talks on restructuring billions of yuan in debt.

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