(Bloomberg) -- China Evergrande Group is hiring financial advisers to assess the firm’s capital structure and “explore all feasible solutions to ease the current liquidity issue.”
The firm is announced it has engaged Houlihan Lokey and Admiralty Harbour Capital as joint FAs, in a filing to the Hong Kong stock exchange Tuesday morning.
Read More: What Is China Evergrande and Why Is It in Trouble?
Evergrande expects “significant continuing decline” in contract sales in September, resulting in “continuous deterioration” of cash collection, according to the statement. That will place “tremendous pressure” on the group’s cashflow and liquidity, it said.
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