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Winding-up applications and bankruptcy petitions were at their highest monthly level since 2019.
Miniso expects to add up to another 200 stores in China before the end of 2023.
The company has also signalled its expansion plans with new kiosk store formats.
Retailing will not to be the main or sole reason people visit town centres.
BFT is forecasting at least six more sales in Hong Kong in the next 12 months.
The franchisor said it takes any breaches of workplace employment practices very seriously