The Wholly Owned Subsidiary Of La Chapel Was Applied For Bankruptcy Liquidation

On the evening of October 12, Xinjiang lashabel Clothing Co., Ltd. announced that the wholly-owned subsidiary nuoxing (Shanghai) Clothing Co., Ltd. (hereinafter referred to as "Shanghai nuoxing") was applied for bankruptcy liquidation by its creditor Kunshan duoxinying Garment Co., Ltd. (hereinafter referred to as "Kunshan duoxinying").

According to the announcement, Kunshan duoxinying and Shanghai nuoxing had a dispute over the bill payment claim. In May 2021, the court ruled that Shanghai nuoxing should pay Kunshan duoxinying bill payment of 754500 yuan and other relevant funds within 10 days from the effective date of the judgment.

Since the above judgment came into effect, Shanghai nuoxing has not fulfilled its payment obligations. Kunshan duoxinying applied to the court for enforcement in July 2021.

After the execution, the court did not find the property available for execution of Shanghai nuoxing, and ruled to terminate the execution procedure.

As of June 30, 2022, Shanghai nuoxing has total assets of 409 million yuan, total liabilities of 410 million yuan, net assets of - 1.5362 million yuan and net profit of - 3.5863 million yuan.

Up to now, Shanghai nuoxing has no business.

According to the risk information, there are several information about the executed, the dishonest, the consumption restriction order and the final case, with the total amount of non performance exceeding 570 million yuan.