Miniso Canada Reaches Preliminary Deal After Court Case Threatened Operations

Miniso Canada says it has reached a preliminary agreement with Miniso Guangzhou LLC in a case that has threatened to force the Chinese discount retailer's Canadian operations into bankruptcy, the Canadian Press reported. In a statement posted to its Instagram page on Monday evening, Miniso Canada said the two parties are currently in the process of settling their business issues and finalizing details on the agreement. Miniso Canada's remarks stemmed from a Dec. 12 application that China-based Miniso Guanzhou LLC filed with the Supreme Court of British Columbia, seeking to begin bankruptcy proceedings for the brand's Canadian business. The company is accusing Miniso Investments Inc., Migu Investments Inc. and Miniso (Canada) Store Inc. — the operators of about 50 stores selling Miniso products in Canada and have another 10 locations in the process of opening — of fraudulently transferring registered trademark rights to third-party corporations, disposing of inventory and ceasing to meet liabilities as they came due. Read more.