Industry ca is a leading Chinese consumer goods maker that makes jewelry and cosmetics for women.
Now, the company has filed for bankruptcy protection.
Industry ca has been struggling to find a buyer for some of its most expensive products, including its flagship collection, which includes a range of earrings, necklaces, and bracelets.
The company’s stock price has been down more than 20% this year.
Its bankruptcy filing suggests that it’s trying to sell off its most valuable assets, including assets that have been valued at nearly $300 million.
The company, founded in 1995, makes jewelry, cosmetics, and fashion accessories for women, as well as consumer products like watches and sunglasses.
It is one of the world’s top earrings makers, with a range that includes earrings for women and men, aswell as a range for women that can be customized with different styles and colors.
The earrings have a unique texture, and each one is handcrafted to order.
For years, the brand had been trying to raise money to pay for production costs, but it was not able to make the sales it had hoped.
Its chief financial officer, Liu Yanqing, told reporters in June that the company was facing a “huge deficit” and had to lay off as many as 20,000 workers.
The layoffs had to be accelerated after the company reported a $300-million loss for the third quarter of this year, according to Reuters.
But it has been hard to find buyers, according with some investors.
In a note to clients on Thursday, a group of China-based investment banks warned that the bankruptcy filing could have implications for the company’s financials.
The group of investment banks in question includes Morgan Stanley, Deutsche Bank, Goldman Sachs, and Credit Suisse, according the Reuters report.
These institutions are members of China Investment Corp., which is the country’s largest private investor in the company.