The Hardys retail chain, popular with expats in Bali, has been declared insolvent. The declaration was read in Surabaya's State Court (Pengadilan Negeri) on November 9th 2017, case number 29/Pdt.Sus-PKPU/2017/PN SBY. Along with the retail chain, PT Hardys Retailindo, PT Grup Hardys and owner I Gede Agus Hardiawan are declared
pailit, (from the French word
faillite, or insolvent). The court also assigned curators (liquidator) to oversee the liquidation.
Besides the retail business, Grup Hardys expanded into banking, advertising, real estate, hospitality among other sectors. This rapid and seemingly chaotic expansion could have contributed to the insolvency.
https://baliberkarya.com/index.php/...n-Grup-Hardys-Akhirnya-Dinyatakan-Pailit.html
