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China’s Sanlu Group Faces Bankruptcy

NTDTV asked:


ZHANG:
Sanlu Group, the first reported source of the tainted milk powder scandal in China, may soon be facing bankruptcy. It’s having to recall millions of dollars worth of products and issue refunds. It may also be liable to pay hospital bills for Chinese children suffering from kidney stones.

A source quoted by Hong Kongs Ta Kong Po online paper says that Sanlu Group’s line of credit maxed out, and that local banks are refusing to loan them more money.

Bankruptcy would lead Sanlu Group to lay off about 350,000 employees nationwide.

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This entry was posted on Monday, December 22nd, 2008 at 7:04 am and is filed under News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

3 Responses to “China’s Sanlu Group Faces Bankruptcy”

  1. PLEASE DONT READ THIS. YOU WILL GET KISSED ON THE NEAREST POSSIBLE FRIDAY BY THE LOVE OF YOUR? LIFE. TOMORROW WILL BE THE BEST DAY OF YOUR LIFE. HOWEVER IF YOU DONT POST THIS COMMENT TO AT LEAST 3 VIDEOS YOU WILL DIE WITHIN 2 DAYS. NOW UV STARTED READIN DIS DUNT STOP THIS IS SO SCARY. SEND THIS OVER TO 5 VIDEOS IN 143 MINUTES WHEN UR DONE PRESS F6 AND UR CRUSHES NAME WILL APPEAR ON THE SCREEN IN BIG LETTERS. THIS IS SO SCARY BECAUSE IT ACTUALLY WORKs

  2. VisionQuest2012 on December 25th, 2008 at 3:14 am

    A lot of babies died so it is murder when the person who knew the powders were contaminated was going into the bodies of babies. Someone is going in front of a firing squad for that one.

  3. Good to hear this news.

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