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HK's Li & Fung says sees record bankruptcies in global retail industry
March 29, 2017 / 9:50 AM / 6 months ago

HK's Li & Fung says sees record bankruptcies in global retail industry

HONG KONG, March 29 (Reuters) - Global exporter Li & Fung Ltd said on Wednesday it expected an unprecedented number of bankruptcies and store closures in the global retail industry in the years to come.

CEO Spencer Fung was speaking at a results conference.

Li & Fung earlier said its 2016 profit tumbled 47 percent, missing expectations. (Reporting by Donny Kwok; Writing by Clare Jim; Editing by Randy Fabi)

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