Suning Appliance Sued by Creditors for $255 Million
The Suning Group headquarters in Nanjing.
Photographer: Costfoto/Barcroft Media/Getty Images
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China Construction Bank Corp. on behalf of creditors sued Suning Appliance Group Co Ltd. to recoup about $255 million lost on debt.
The group, which used to own retail giant Suning.com Co., and its owner, father-and-son pair Zhang Jindong and Zhang Kangyang, were listed as defendants in an Aug. 2 claim filed in the Hong Kong High Court.