“Unizo Holdings Files for Civil Rehabilitation Law Due to COVID-19 Impact and Rising Prices”

Unizo Holdings, which operates businesses such as hotels and real estate, filed an application with the Tokyo District Court on the 26th for the application of the Civil Rehabilitation Law due to a rapid deterioration in its cash flow due to the effects of the new coronavirus and rising prices. Total liabilities amount to 126.2 billion yen.

According to Unizo Holdings, affiliated companies such as “Unizo Hotel” and “Unizo Real Estate” have not filed any petitions to start rehabilitation proceedings and will continue to operate as before.

Unizo Holdings commented, “We apologize for causing concern and inconvenience to all concerned, but we ask for your continued understanding and cooperation.”