Suning Sells 4 Companies for 4 Yuan, and Carrefour’s China Stores Will Disappear
Suning Sells 4 Companies for 4 Yuan, and Carrefour’s China Stores Will Disappear
Udumbara
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Suning's fully-owned subsidiary, Suning International, signed an agreement to transfer 100% of the shares of Carrefour subsidiaries in Ningbo, Hangzhou, Zhuzhou, and Shenyang for just one yuan each. The four stores have been shut down, with negative net assets and combined liabilities of approximately 176 million yuan. All of these companies are also listed as untrustworthy.
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