China Leather Industry Association confirms tannery - leatherbiz: Lea Leatherbiz

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China Leather Industry Association confirms tannery chief flight from bank debt

18/06/2012
China’s state-run leather industry body, the China Leather Industry Association (CLIA), has repeated television reports that a prominent figure in the industry there, Huang Jian, has gone into hiding leaving debts of more than $150 million.

Mr Huang is the chairman of Hongchang Leather Company, an award-winning tannery in Haining City in Zhejiang Province that specialised in producing leather for upholstery and leathergoods. The company is to be liquidated after accumulating unmanageable levels of debt.

CLIA said Mr Huang left China in May and that creditors would now lose out. Some of the biggest banks in China are high up on the list of creditors but have also come in for criticism for lending too much money to the company.


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