Chinese Jewelry Queen’s Neoglory Defaults Again
Troubled Chinese accessories retailer Neoglory Holdings Group Co. Ltd. missed payments on another exchange-traded bond, bringing its total defaults on eight bond issues to more than 8.5 billion yuan ($1.25 billion).
The Zhejiang-based conglomerate said in a statement Thursday that it was unable to repay the remaining 100 million yuan due on a 1.1 billion yuan, three-year unsecured bond issued in 2016.
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