Lack Of Liquidity Forces Global Brands Group To Shutter Business

Global Brands Group is winding down its operations.

On Monday, the Hong Kong-based company said that after a hearing on Friday in Bermuda, the court ordered that the company be “wound up.” The court appointed John C. McKenna of Finance & Risk Services Ltd. in Hamilton, Bermuda, to oversee the disposition of its property. GBG is incorporated in Bermuda and had asked the courts there to appoint a provisional liquidator to help it restructure two months ago. The case has now been converted to a liquidation. Read more at Yahoo Finance.