Hongkong'S Old Clothing Chain "O Wei" Closures To Shanghai Store Staff

This is the third listed company in Hongkong that has recently closed down because of its insolvency loan.

At present, the Labour Department of Hongkong has set up a hotline to deal with related issues of employees of the company.

But the person in charge told reporters that the mainland employees were not within their scope of acceptance.

However, in terms of agents in Shanghai, he did not make a clear statement about staff resettlement.

Wang Liang, director of the Shanghai Institute of circulation economics, predicted that after the Spring Festival next year, some businesses in the Hushang will be faced with survival difficulties.

"If the company does not want me, can I get the compensation?"

Uright (You Wei) Lu Qing, a store manager in North Sichuan Road, asked after worrying about his clothes.

It is also a "suffocating" enterprise in the financial turmoil.

Recently, Uright, an old clothing chain in Hongkong, officially declared bankruptcy.

Its own International Holdings Limited has been traced back to nearly 1 billion 200 million Hong Kong dollars by banks. This is also the third listed company in Hongkong that has failed to repay loans.

During the heyday, there were more than 500 shops in the mainland, but most of them are closed now.

Yesterday, a reporter visited his store in North Sichuan Road and found that although he was still in business, employees were generally in a state of panic.

Ceng Junhua, the financial secretary of Hongkong, warned yesterday about the "Wei Wei incident", which is just a prelude to the financial tsunami, and the real storm is not yet there.

Wang Liang, director of the Shanghai Institute of circulation economics, predicted that after the Spring Festival next year, some of the business entities in Shanghai will face survival difficulties.

　　恐慌情緒彌漫門店

"I heard the wind."

Lu Qing stressed that although he was only a "grass-roots employee", the news of poor corporate operation was pmitted to various sources.

So far, her comfort with other employees is that the store is still operating normally, and there has been no arrears in wages and bonuses last month.

There is still a large "uright" sign on top of the store, with only the word "half off" on it.

"At least for the time being, the new season in autumn and winter has arrived on time."

Lu Qing added one sentence.

In her eyes and colleagues, this is a reassuring stone, which shows that the supply channel has not changed due to bankruptcy.

"Compared with the same period last year, it was hard to beat, before it was 7-8 fold."

Lu Qing Tan said.

Privately, a clerk revealed that the business was not very good.

Reporters noted that in the bustling crowd of North Sichuan Road, here only half an hour to enter 5 customers, only 1 pactions.

Compared with some popular fashion brands around the world, it appears "shabby".

In Lu Qing's deep heart, he is full of uncertainty about the future.

The old employee of the "Wei Wei" said that the stores in Shanghai had shrunk from the original more than 30 to only more than 10 at present, and there seems to be only one in the central city.

The current situation makes Lu Qing have to consider for himself.

"I signed the contract with John Wei in January next year. If the company does not want me now, will it be compensated?"

She anxiously asked the reporter, "what about the less pensions and provident funds?"

　　員工利益保障面臨難題

No. 538, Huaihai Middle Road, was the flagship store of Shanghai.

But reporters at the scene saw that the "owner" has become another store of clothing brands.

The shop assistant told reporters that they had been stationed in 1 years, after being a beauty shop.

"It's a long time ago that you opened a shop."

In a shop behind the shop, Zhang Lao told reporters that he was very light in the latter stage of operation.

Yesterday, the reporter called the Shanghai brand agent.

The staff said that no notice had been received from Hongkong.

She said that at present, the store in Shanghai has been reduced to about 10.

"We cannot disclose any other details."

Reporters repeatedly called on Hongkong headquarters yesterday, and the phone was never answered.

At present, the Labour Department of Hongkong has set up a hotline to deal with related issues of employees of the company.

But the person in charge told reporters that the employees of the mainland were not within the scope of their acceptance.

In terms of agents in Shanghai, there is no clear position for staff placement.

　　已有企業有意接盤

"At present, partners are working in the first line."

DDT Hongkong company official told reporters.

Previously, DDT's two partners were appointed by the high court of the Hongkong Special Administrative Region as You Wei International Holdings Limited (You Wei) joint and individual provisional liquidators.

According to a statement sent to reporters by DDT, if DDT is considered to be the biggest benefit for the creditors, DDT will participate in discussions and negotiations on behalf of the company. One of its purposes is to reorganize its business, operation and debt or to sell its assets.

At present, the provisional liquidator is consulting with management, creditors and other related parties to examine the business of the company and to collect the intention to all parties concerned who want to purchase the whole or part of the business.

It has been revealed that the current situation of Wei Wei has not reached the level of bankruptcy, but has been protected to tide over difficulties.

In fact, there are two or three enterprises interested in docking.

　　“骨牌”將會倒幾張

Under the influence of "financial tsunami", who has fallen down, who is the next Domino?

Ceng Junhua, the financial secretary of Hongkong, pointed out yesterday that it is only a prelude to the financial tsunami, and the real storm is not yet there.

In the mainland, the chain effect is also spreading.

Wang Liang, director of the Shanghai Institute of circulation economics, predicts that after the Spring Festival next year, some businesses in Shanghai will be faced with survival difficulties.

Wang Liang pointed out that changes in the international economic environment have changed the domestic terminal consumption.

"After shrinking wealth, consumption power will weaken."

He explained that under the influence of the financial crisis, the basic consumption power of ordinary income earners who have a major impact on terminal consumption will be weakened.

In his view, what is currently being affected is the investment commercial real estate in Shanghai.

Over the past few years, the rapid development of the field has led to the phenomenon of oversupply in some areas.

In the current financial environment, such projects will be impacted in terms of rent.

Next year, after the Spring Festival, the Domino of the financial tsunami will be pushed to the real business.

Those regulatory models and branded commercial facilities are less affected.

And those products that are homogeneous and have no personality will be tested.