Creditors Resurface at LeEco Headquarters Demanding Repayments
Xu Wei
DATE:  Sep 26 2017
/ SOURCE:  Yicai
Creditors Resurface at LeEco Headquarters Demanding Repayments Creditors Resurface at LeEco Headquarters Demanding Repayments

(Yicai Global) Sept. 26 -- Creditors were still camped out at Leshi Holding Beijing Co.'s headquarters demanding payments yesterday, despite reports that the firm was settling up with over 50 suppliers last week, WeChat account Economic Weekly reported.

At around 10 a.m., more than 20 suppliers from across the country gathered at the building, saying they had heard the company struck an agreement with suppliers but had not heard anything themselves. However, the gathering didn't bring about any success.

The debt-laden conglomerate, also known as LeEco, said last week that it had settled some CNY100 million (USD15 million) in debt through a repayment plan with 28 suppliers and would fix up with another 27 this week. Creditors were quick to support the group's founder, Jia Yueting, for handling the matter responsibly despite the bad press, though others appeared to have not been included in the deal.

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Keywords:   LEECO,Debt