Troubled China Fashion Brand La Chapelle Vows to Fight On Even as Creditors Circle
The parent of troubled Chinese fast-fashion brand La Chapelle vowed to fight court petitions by three of its creditors seeking the company’s liquidation, after it failed repay millions in debt.
But the firm, which faces delisting from the Shanghai Stock Exchange, admitted it has liquidity problems in a notice filed to the bourse on Tuesday (link in Chinese).
Three suppliers of Xinjiang La Chapelle Fashion Co. Ltd. (603157.SH/06116.HK), which at one time aimed to become the Chinese version of Spanish apparel chain Zara, have filed court petitions for the company to be wound up due to its inability to repay debts, according to the notice.
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