Further details from the national enterprise bankruptcy disclosure platform, dated 13th June, revealed that Shanghai Yuxing Advertising Co. had filed a petition for Hozon to enter bankruptcy, citing unpaid exhibition printing fees. The court has accepted the case and appointed an administrator to oversee the restructuring.
Conflicting reports have emerged from Thailand. Neta’s Facebook page in Thailand posted a statement on 12th June, asserting that the restructuring is a government-led recovery effort under court supervision.
The company outlined plans to attract strategic investors, overhaul management, and restart production, research and development, and international expansion.
However, a Thai supplier has cast…