Miniso Guangzhou LLC, the Chinese low-cost retailer, has reached an interim agreement with its Canadian franchisees which may save them heading to court, a Miniso lawyer says. A lawyer for Miniso Guangzhou LLC says instead of heading to court Miniso and its Canadian franchisee have reached an interim agreement. ( Rene Johnston / Toronto Star file photo )Grieve’s remarks come after Miniso Guangzhou LLC filed court documents with the Supreme Court of British Columbia, threatening to force Miniso Investments Inc., Migu Investments Inc. and Miniso (Canada) Store Inc. into bankruptcy. The filings said Miniso Guangzhou LLC is owed the Canadian equivalent of $2.4 million (U.S.) in loans and $13.3 million in inventory. Article Continued BelowThere are about 50 Miniso stores in operation in Canada, but when the brand entered the country in 2017 it promised to open 500 locations within three years.

Source: thestar January 07, 2019 15:54 UTC