Xinjiang La Chapelle Fashion Co., Ltd. Class H (HK:6116) has released an update.
Xinjiang La Chapelle Fashion Co., Ltd., in the midst of bankruptcy reorganisation, has been working with a newly appointed administrator, JunHe LLP, to manage its restructuring process after a potential conflict of interest with the previous administrator. The company faces the risk of its shares becoming worthless and potential deregistration if the reorganisation plan fails to gain approval from creditors, shareholders, or the court. This shift in administration and the looming threat of bankruptcy highlight the critical juncture at which the company currently stands.
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