Bad news continues to surround Peace Mark (304). Bank of East Asia China has just seized three Peace Mark stores in China (one in Taiyuan, and two in Guangzhou). As a domino effect, banks, one after another, most likely will seek action against Peace Mark and will bring the Company into liquidation.
With all the bad news surrounding the company: the credibility of the management getting tarnished, the seizing of stores, repayment of loans being demanded by creditors, it seems to me that the chance of a white knight appearing to rescue the company is getting slimmer every day. It just surprises me that a growing company with good prospect can be brought down literally in weeks simply because of a precipitous drop in the company’s share price. I really wonder what is the actual reason of the drop. Is it just panic selling in a bear market?
