One of China’s major bike-sharing brands, Ofo, has denied rumours the company is preparing for bankruptcy and restructuring, The Paper reported.
According to the rumours, a large broker has already been seconded to complete the bankruptcy restructuring plan.
However, the company said that the news report is seriously inaccurate, and the so-called bankruptcy and restructuring is utter “nonsense.”
Ofo is still operating independently and the business is progressing normally and orderly, the bike-sharing giant claimed.
The company also said that the rumours have seriously damaged the brand and they will immediately resort to legal action.