China’s Shandong Ruyi made US$4 billion worth of overseas acquisitions in three years starting from 2015, including French fashion label Sandro. Photo: AFP

Shandong Ruyi, ‘China’s LVMH’, finds itself in a precarious situation as coronavirus aggravates debt woes

  • The private luxury clothing giant last week secured bondholders’ support to extend interest payment on a 1 billion yuan note again by another six months
  • Shandong Ruyi has to look for fresh sources of funding after losing its state-backed saviour
Topic |   China economy
China’s Shandong Ruyi made US$4 billion worth of overseas acquisitions in three years starting from 2015, including French fashion label Sandro. Photo: AFP
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