Augustus Footwear Filed For Bankruptcy

< p > reporters learned from the Longwan District People's court yesterday that Augustus, a target= "_blank" href= "http://www.91se91.com/" and "shoes /a" Industry Co., Ltd., which had a high reputation in the domestic market, submitted the bankruptcy petition to the hospital on 12 March.

Earlier, there were rumors of Augustus's "difficult operation" and "bankruptcy".

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Augustus, founded in 1995, is famous for its production and marketing of "antibacterial elite" functional leather shoes, and has won the honor of "China famous trademark" and "national inspection free product" and so on. P

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< p > an old Augustus employee told reporters that when the company was on holiday in January 25th, employees were asked to return to work in February 25th.

But when the old employees returned to the factory on time, they found that the factory door was closed. "We still have 1 months' wages, but we are at the door of the company.

Suppliers of raw materials are also coming to grab machinery and equipment and shoes that have not been shipped out.

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< p > March 4th, the Wenzhou science and Technology Park of the hi tech Industrial Development Zone posted a notice at the door of the company at No. 106 Wen Fung Road, Wenzhou Agricultural Development Zone, asking for 4-5 days in March to register the debts of the suppliers and sellers to the police office of Xingan Road Agricultural Development zone.

Employee wages to Pu Zhou Street office 204 room.

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< p > March 13th, it was discovered that Augustus, chairman of the board who had lost contact with others, appeared in the Development Zone in March 13th.

About 40 Augustus suppliers and leather shoe processors came to Li Shanghui and asked him to make up for IOUs.

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< p > > a supplier who participated in the day's "make up ious ious" told reporters that Augustus's financial staff said that besides the usury, the company's arrears could reach 120 million yuan, "the bank loan is about 80 million yuan, and the supplier, the leather shoes processors 2000 Yu Wanyuan."

Two other suppliers broke the news that Li Shanghui might have borrowed usury from several Guarantee Corporation. "Two years ago, he borrowed 10 million yuan from a Guarantee Corporation and had an interest rate of 6 yuan.

I heard that the interest has been paid 8 million yuan, the principal has also paid 4 million yuan, and still owe 6 million yuan principal.

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< p > these suppliers are most worried about not getting the money back. The assets of Augustus's plant and other assets are valued at $6. 70 million. "After bankruptcy, it is not enough to repay bank loans".

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< p > Liao Yinshuang, deputy secretary of the Party Working Committee of Wenzhou hi tech Industrial Development Zone, has been involved in the coordination of Augustus's related affairs several times recently.

He analyzed that the reasons leading to Augustus's application for bankruptcy are more, one is the loss of real estate investment, the two is corporate joint insurance, bank lending, causing financial strain, three is usury, "drinking poison and quench thirst", the four is to build new factory building and increase the funding gap.

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< p > "brand reputation is very high. It's a pity!" the Secretary General of Longwan footwear industry association Cai Yanjiong exclaimed Augustus's "falling".

It is understood that last year 1-11 months, Augustus land tax 1 million 478 thousand and 400 yuan, national tax 532 thousand and 600 yuan, the total tax revenue in Longwan more than 200 shoe enterprises ranked 22.

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< p > what led to "Augustus" bankruptcy? < /p >

< p > Augustus has recently attacked the foreign trade market and authorized the trademark to be paid by all provincial agents.

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< p > a boss who makes leather shoes for his OEM is saying that although Augustus "gave up" to run the domestic market, he only received about 2000000 yuan of royalties per year to the provincial agents.

According to reports, Augustus did better in Sichuan and Shandong. "Last year's sales may have nearly billion yuan."

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Augustus, an old employee of the above P, told reporters that there were about 400 employees in the production department last year and about 1000000 pairs of shoes exported annually.

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< p > about 2000000 yuan per year for domestic trade mark use fees plus the export volume of million pairs of shoes. Generally speaking, Augustus should not lose money in making shoes.

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What are the reasons for "P >, which led Augustus to apply for bankruptcy in court?" < /p >

< p > investment in Tai'an real estate loss < /p >

< p > a boss of Longwan shoe enterprises said that in the past few years Li Shanghui had invested in real estate projects in Tai'an, Shandong, and began to work very well. Later, he did not know which one was good enough, and finally lost some money.

As for the amount of money lost, the boss said, "it is not clear, but it should not be a small number".

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< p > usury resulted in arrears increasing < /p >.

< p > March 13th, it was discovered that Augustus, chairman of the board who had lost contact with others, appeared in the Development Zone in March 13th.

About 40 Augustus suppliers and leather shoe processors came to Li Shanghui and surrounded him in the office building of Wenzhou hi tech Industrial Development Zone, asking him to make up for IOUs.

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< p > suppliers said that Li Shanghui had been "searched" by Guarantee Corporation from Hangzhou to Wenzhou to solve things. "On the same day, he was following several people, as if he were Guarantee Corporation."

It is said that Li Shanghui borrowed 10 million yuan usury from a Guarantee Corporation two years ago. He borrowed it for half a month and probably used it to repay the loan. After that, the bank continued to lend money, but he never paid it off, and he also borrowed money from other Guarantee Corporation.

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< p > build new plant and increase capital pressure < /p >

< p > Augustus has built a new factory covering 17 mu of land last year except for the ten acres of old factory buildings at 106 Wen Fung Road, the development zone.

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< p > Liao Yinshuang, deputy secretary of the Party committee of science and Technology Park of Wenzhou hi tech Industrial Development Zone, said that after the completion of Augustus's new factory last year, due to tight funds, it was said that 45 million yuan was sold to hobby pen industry. At that time, it also received a deposit of 10 million yuan. In the end, somehow, the two sides did not talk about it, and Augustus returned the deposit.

Liao Yinshuang thought that if the business was negotiated, Augustus might not go to the point of "active application for bankruptcy" now.

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"P > insider revealed that Augustus had been there for some time before building the new factory building." if it is not built again, the land will be taken back by the government. "Therefore, Li Shanghui had to borrow money to build a new factory and build it for 3 years.

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< p > suspected to be caught in UNPROFOR /p.

< p > February 8th (28 December), a reader called the reporter and said, "Augustus is going to go bankrupt".

Reporters to the Longwan footwear industry association secretary general Cai Yanjiong to verify whether the news is accurate.

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< p > Cai Yanjiong replied, Augustus company personnel once called him, said that before the lunar new year, raw material suppliers came together to pay debts, the company did not have the money to settle accounts, "but did not go bankrupt."

After many days in succession, Cai Yanjiong called Li Shanghui, "has not been contacted."

In February 18th, Cai Yanjiong asked the association staff to go to the Augustus company to see the company. It was found that the door of the company was locked, and the information room and the factory area were empty.

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< p > February 20th, a staff member of Anhui Suzhou investment promotion office visited the Cai Yanjiong shoe industry association of Longwan, saying that Augustus and another small and medium-sized shoe manufacturer in Longwan had just signed 95 acres of contracted land in Suzhou and planned total investment of 550 million yuan.

Cai Yanjiong was surprised at that time: the capital was so strained, what to invest 550 million yuan? < /p >

< p > industry analysis, Augustus may be deeply involved in corporate joint insurance and unable to extricate himself.

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< p > rumor agency child shoes loss 10 million < /p >

< p > Augustus material supplier broke the news that after Li Shanghui gave up Augustus's domestic sales, he founded a company in Shanghai in the past few years to represent a children's wear brand. However, it was said that he had lost about 10000000 yuan, and he said he had lost nearly 30 million yuan.

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< p > the problem of funds appeared before the year of doubt, < /p >

< p > a shoe factory owner who has been processing OEM for Augustus from 2008 has told reporters that the leather shoes he made for Augustus is usually settled in 4 months.

The cooperation between the two sides is more enjoyable, but since 2011, he has gone to Augustus to get some money, which is a bit troublesome.

At present, Augustus still owes him several hundred thousand yuan.

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< p > Li Shanghui's alternative < /p >.

< p > peer evaluation < /p >

< p > "do not smoke, do not drink, do not gamble, and do not travel with colleagues." when a Longwan shoe industry colleague comments on Li Shang Hui, he said, "he is quite different."

The boss said that when Augustus did a good job in the past, Li Shanghui "lit a lamp every day, sitting alone in the room, and did not invite friends to eat wine, drink tea, talk about the heart, it seems that there is no very good friend".

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< p > another boss of shoe enterprises thinks that Li Shanghui may not be a good entrepreneur friend. In difficult times, no one is going to save Augustus.

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< p > Cai Yanjiong, Secretary General of shoe industry association of Longwan District, has a better impression of Li Shanghui. "He looks more gentle. When the association opens the conference, the executive vice president of Li Shanghui also comes. But in the past two years, he has come around to turn around and stay away with everyone."

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