Country Garden Extends Sales Slump as Financial Woes Pile Up

(Bloomberg) — Country Garden Holdings Co. Ltd.’s home sales tumbled last month from a year earlier, extending woes for the Chinese developer that’s already facing a wind-up petition and missed a deadline for releasing annual results.

Contracted sales for March plunged 83% to 4.3 billion yuan ($590 million), following an 85% annual slide in February, corporate filings show. Sales rebounded 16% last month from February, traditionally a slower period with the Lunar New Year holiday.