Business Services Industry
A nightmare shop in China.
Australasian Business Intelligence, June, 2009
Byline: Colleen Ryan
Jun 21, 2009 (The Australian Financial Review - ABIX via COMTEX) -- Australian businessman Matthew Perrin, who once had cash of $A100 million, filed for bankruptcy after a disastrous retail foray in China via the Global Mart joint venture. Global Mart is seeking a local government emergency loan of $A9.2 million to permit 109 of its outlets to reopen. None of the retailer's stockholders, including Perrin, are taking part in the negotiations. The positions of over 2,000 employees are at stake.
Publication Date: 20 June 2009
GLOBAL MART LIMITED
CHINA. MINISTRY OF COMMERCE
CHINESE PEOPLE'S POLITICAL CONSULTATIVE COMMITTEE
HAINAN AIRLINES COMPANY LIMITED
WACO INTERNATIONAL
SEASTAR GROUP...
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