Country Garden Records Biggest Sales Drop in Years

(Bloomberg) ― Country Garden Holdings Co. posted its biggest sales drop in at least six years as customers’ concerns about its ability to complete projects threaten to exacerbate a cash crunch at the defaulted Chinese developer.

Contracted sales for October plunged 81.1% from the same period a year earlier, topping an 80.7% drop in September, its corporate filings show. Sales edged up 2.2% from the prior month.