Miniso Group wants trustee to take over operation of 50 Miniso stores in Canada

VANCOUVER, British Columbia, Dec. 17, 2018 (GLOBE NEWSWIRE) -- The Chinese parent companies of the international Miniso brand (Miniso Group) have applied to the B.C. Supreme Court in bankruptcy proceedings to have the Canadian licensee declared bankrupt so that a court officer can operate the 50 Miniso stores selling Miniso brand items in Canada. The court petition claims the Miniso Group is owed $20 million for loans and stock shipped to the Canadian operations.

The Miniso Group entered into a licensing and supply agreement with B.C. registered Migu Investments Inc., Miniso Canada Investments Inc. and Miniso Canada Store Inc. (licensee) in 2017. Since then, the licensee has opened 50 stores across Canada with plans to open 10 additional outlets.

In the bankruptcy petition, Miniso Group claims it is unpaid, as are other creditors and the licensee has been misusing the Miniso trademarks. If this continues, Miniso Group is concerned that this could irreparably damage the Miniso Brand in Canada.

Miniso Group representatives say their overarching objective is to preserve the Miniso brand in Canada for the benefit of the public. 

Miniso Group hopes that, by having an independent court officer appointed oversee the Miniso Canada operations, it can reinstitute supply and preserve the good name and reputation of Miniso in Canada. Miniso Group will do whatever it takes to ensure the Miniso Brand in Canada is preserved and the public are well served through the Miniso outlets.

For more information please contact:
Alyn Edwards
Peak Communicators
Ph: 604 689-5559
Cell: 604 908-7231