China luxury goods player Secoo gets private equity bailout
Secoo Holding, a US-listed Chinese luxury goods retailer that has seen its stock price fall by 95% since the start of 2020 and has filed for bankruptcy twice in the past eight months, has received USD 4m in funding.
Beijing HCYK Corporation Management Partner – described as a private equity firm – will subscribe to 3.75m class A ordinary shares for USD 3m, while Timing Capital will pay USD 1m for 1.25m class A...
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