Posted inChina

Bike-sharing firm Ofo unable to pay debts

Chinese bike-sharing company Ofo has no assets to pay off its debts, China Daily reported, citing an article in Beijing Youth Daily. As per court documents, bicycle manufacturer Tianjin Fuji-Ta Bicycle Co. Ltd. filed an enforcement application to order Ofo’s operator, Dongxia Datong (Beijing) Management Consultancy, to pay back about 250 million yuan (US$36 million) […]

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