Leshi Agrees USD100 Billion Repayment Plan With Some Suppliers, Leaves Others in Dark

Leshi Agrees USD100 Billion Repayment Plan With Some Suppliers, Leaves Others in Dark

Liao Shumin

Date: Thu, 09/21/2017 - 19:35 / Keywords: Jia Yueting, debt, Leshi, LEECO, LETV, Leshi Mobile
Leshi Agrees USD100 Billion Repayment Plan With Some Suppliers, Leaves Others in Dark
Leshi Agrees USD100 Billion Repayment Plan With Some Suppliers, Leaves Others in Dark

(Yicai Global) Sept. 21 -- Speculation that Leshi Holdings Co., the company behind the LeEco brand, has reached an agreement to settle USD100 million worth of debt with over 50 suppliers of Leshi Mobile Intelligent Technology is spreading like wildfire online, three days after images showed company founder Jia Yueting in Hong Kong.

Suppliers rushed to send letters of thanks to the company, commending Jia Yueting for his responsibility and not abandoning the group of small-scale suppliers despite the difficult circumstances.

Leshi confirmed to Yicai Global that it has resolved the debt in question, saying Leshi Mobile signed a repayment agreement with 28 suppliers last week and will sign with another 27 suppliers this week.

“This is a collective and time-limited solution directed at more than 20 suppliers, but the money cannot be paid back right now,” one of the suppliers told Yicai Global.

On Sept. 15, when Jia Yueting was pictured in Hong Kong, more than 20 of the suppliers left their hotels nearby Leshi’s offices, where they had been camped out for nearly three months to pressurize the firm into making repayments.

However, not all of Leshi’s suppliers shared the fortune. At least two said they have received no contact from the debt-laden conglomerate.

“I haven’t heard any information and I don’t know who to look for,” one of the suppliers said.

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Keywords: Jia Yueting, debt, Leshi, LEECO, LETV, Leshi Mobile