JAPAN: Firstman Declared Bankrupt With $33.7m Debts
Apparel producer and retailer Firstman Corp has gone bankrupt with debts of $33.7 million after plunging sales and a bad loan from a loss-making supermarket pushed it into the red. The 51-year-old firm, which produces men's casual clothing, lost $8.8m in the last fiscal year but was declared bankrupt during a court hearing in Tokyo.
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