Caixin
Jan 11, 2019 05:06 AM
FINANCE

Chinese Jewelry Queen’s Neoglory Defaults Again

Neoglory’s financial woes came to light in September when it missed payments on two bonds on the same day. Photo: VCG
Neoglory’s financial woes came to light in September when it missed payments on two bonds on the same day. Photo: VCG

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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