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Lifeline for Reid & Taylor? Hong Kong bidder keen after others back out

If the Hong Kong firm fails to submit a resolution plan by February 7, the clothing firm will go into liquidation

Reid & Taylor
Reid & Taylor

After potential bidders, including numerous investment firms and asset reconstruction companies, backed out from placing bids for acquisition of the stressed assets of Reid & Taylor (R&T) India, thereby leading it to liquidation, Hong Kong-based SPGP Holdings (HK) Limited has evinced interest to acquire the firm.   A petition filed by the R&T employees’ association in the Mumbai bench of the NCLT stated that this Hong Kong company, which has a $250 million pool for investments in India, has been in talks with the association for a possible takeover.   In case the deal ...