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Home » IANS » China builder abruptly liquidates UK biz

China builder abruptly liquidates UK biz

By IANS
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London, June 22 (IANS) Chinese conglomerate, CIMC which builds hotels for Hilton and Travelodge has abruptly liquidated its UK subsidiaries, leaving huge unpaid bills, The Times, UK reported.

China International Marine Containers (CIMC), the world’s biggest shipping-container maker, has appointed Re10 as liquidator to its main UK businesses, CIMC Developments and CIMC Modular Building Systems. Creditors said there had been no warning of trouble, nor any explanation, the report said.

CIMC has supplied ready-built rooms from a factory in China for more than 10 years. They have been used for hotels, including a Hampton by Hilton at Bristol airport, and student accommodation.

The trade magazine Construction Enquirer reported that Covid-19 was behind the move. However, creditors claimed that the business faced big liabilities for rectifying faulty buildings.

–IANS

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(This story has not been edited by Newsd staff and is auto-generated from a syndicated feed.)
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