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Breaking news: Peace Mark on the slippery path to bankruptcy

September 2008


News from a source close to Europa Star and reports in the Hong Kong media indicate that Peace Mark is in the process of being liquidated. Three Peace Mark stores in China (one in Taiyuan, and two in Guangzhou) have already been seized by the Bank of East Asia China. It is expected that other creditors will also file legal petitions in the following days.

Trading in Peace Mark has been suspended since August 18 and the company's stock has lost 70 per cent of its value since July 30.

More news and comments to follow on Europa Star in the coming days.

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