Chinese conglomerate HNA Group faces bankruptcy, restructuring

 

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Embattled Chinese conglomerate HNA Group which has been struggling to resolve a drawn-out cash crisis faces bankruptcy and restructuring to manage its debts, the company announced on Friday.

HNA, which owns one of China's biggest airlines Hainan Airlines and is China's largest private aviation conglomerate, sad it received a notice from the Hainan Provincial Higher People's Court, saying that "creditors have applied to the court for bankruptcy and restructuring of (the) group as it could not pay off due debts".

The company will cooperate with the court’s review, push forward . . .

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