Brief: Kingmaker Footwear Holdings says group to gradually wind down, discontinue or sell its retail business

Kingmaker Footwear Holdings

29/08/2016 15:55

Aug 29 (Reuters) - Kingmaker Footwear Holdings Ltd  1170.HK : 
 * Group decided to gradually wind down, discontinue or sell its retail business 
 * It is expected that all the retail operations of the group will cease by end of March 2017. 
 * Expected to record decrease in unaudited consolidated revenue by  approximately 28% for three months ended 30 June 2016 
 * In order to deal with the challenging market conditions, the group will  implement the cost control measures 
 * To reduce costs and improve profitability in long run, group will close down manufacturing facilities in Zhongshan in September 2016 
 * Group would consider various options including a further downsizing or  winding down of its operations 
 * Says group may either lease out or sell its manufacturing facilities in  Zhongshan 
 
 * Source text for Eikon  ID:nHKS3L7HL8  
 
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