Sheng Yu Home Textile Capital Chain Turnover Difficulties Start Asset Restructuring

< p > > a href= "http://sjfzxm.com//business/" > Wenzhou < /a > the first step of asset restructuring of the famous household textile enterprise Sheng Yu home textile group.

In August 6th, the launching ceremony of the asset restructuring of Sheng Yu group and Sheng Yu home textile group was held in Wenzhou. Nearly 100 people attended the ceremony.

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< p > last year, the news about "Sheng Yu home textile capital chain breakage and company closures" continued.

Yesterday, the people's website quoted the Cangnan county enterprise risk emergency response office responsible person said: Sheng Yu Home Textile Group problems early this year exposed, capital chain tension, but unlike some of Wenzhou venture enterprises, the group did not enter the real estate sector, but industrial investment is too large, eventually leading to the company's cash flow difficulties.

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< p > it is understood that Sheng Yu Home Textile Group will undergo three stages, including debt restructuring, restructuring of property rights, and introduction of strategic investors. At present, debt restructuring is being initiated. Shanghai investment and Development Co., Ltd., an investment organization from Shanghai, is involved in the corresponding work.

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< p > < strong > Sheng Yu plans to introduce strategic investors < /strong > /p >

< p > public information shows that the Sheng Yu home textile group was founded in March 1996. At present, there are 13 wholly owned and controlling subsidiaries, involving the entire industrial chain of cotton processing, spinning, weaving, printing and dyeing, bedding production and sales, with 3500 employees and total assets of 1 billion 500 million yuan.

At present, the company sells all over the country in 27 provinces, municipalities and autonomous regions, and has more than 800 stores or counters and more than 1000 distributors.

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< p > July 2014, visited the industrial park of Sheng Yu home textile in Cangnan, Zhejiang.

It was found at the scene that the factory area of Sheng Yu home textile was relatively empty.

Residents and vendors around the factory also said that no one was in or out of the factory area.

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< p > for this, in August 7th, the head of the business department of the Cangnan Bureau of letters said that the factory had been producing and had the function of "hematopoiesis".

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< p > the reason for the tension of Sheng Yu home textile capital chain is that Zhou Dewen, chairman of Wenzhou SME Promotion Association, said that first, orders were reduced after the international financial crisis; two, after the tightening of domestic money, the enterprise was pumped by banks, and other enterprises were mutually insured and covered by billions of dollars. Three, the blind expansion of enterprises.

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< p > "in addition to planning to introduce strategic investors, ESOP will also be adopted.

The restructuring plan is still being worked out. "

The director of the Business Bureau of the above Bureau said.

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After the start of the reorganization of assets in August 6th, P and Zhou Dewen went on to investigate and assess assets and liabilities of the two enterprises invested by Sheng Yu home textiles in Chibi and Jiayu counties of Hubei province.

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< p > it is understood that the two enterprises invested by Sheng Yu home textile in Chibi are all textile enterprises. One is a newly built enterprise. At present, the plant is close to completion and the equipment has been purchased. The other is the enterprise it acquired.

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< p > "asset restructuring should be carried out step by step. This is a relatively long process.

To this day, enterprises have exhausted the last drop of blood, it is very difficult to revive, but we do our best to help such a good enterprise out of the predicament.

I'm still doing my due diligence, and I need to know about the 7~10 days. "

Zhou Dewen said, "many enterprises enter the life and death fatigue period, which requires more understanding and care from the community."

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< p > as for liabilities, all parties refused to respond on the grounds of "being investigated and inconvenient to disclose".

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< p > < strong > local enterprises mutual insurance joint insurance is more serious < /strong > < /p >

< p > it is understood that in Cangnan, such as Sheng Yu home textiles such as mutual enterprise mutual insurance joint venture funds difficulties is not a case.

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< p > Cangnan Entrepreneurs Association, Cangnan printing and packaging industry association, Longgang Entrepreneurs Association and many other units have told reporters that mutual insurance is now a serious problem.

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< p > Li Junqiao, Secretary General of Cangnan entrepreneur association, said that mutual insurance and joint insurance would bring about a combined effect.

There are some enterprises due to bank loans, resulting in tight capital chain, business difficulties.

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< p > some time ago, 36 enterprises went bankrupt in Longgang, Cangnan.

In this regard, the Longgang Entrepreneurs Association denied.

However, "daily economic news" reporters in the field visit to understand that the list of 36 enterprises Rui Jiao group has indeed ceased production.

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< p > according to people familiar with the matter, there are up to more than 30 cases in which the Swiss Education Group has closed the case, involving private lending and bank loans amounting to about 80000000 yuan.

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< p > public information shows that the Swiss education group is a company engaged in stationery production. Its subsidiaries include Swiss Education Group (USA) Limited, Suqian Rui Jiao Plastic Industry Co., Ltd., Shanghai Rui Jiao Industrial Co., Ltd., Wenzhou Rui Jiao import and Export Co., Ltd., Wenzhou Sino Hong Kong Construction Engineering Co., Ltd., Jiangsu Rui Jiao Industrial Co., Ltd. and Shanghai Rui Jiao Traders Hotel and many other subsidiaries, and Canada International Real Estate Co., Ltd.

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< p > it is also understood that the printing and packaging industry in Cangnan (Rui Jiao group, the executive vice president of Cangnan printing and packaging industry association), as the pillar industry of Cangnan's economy, is facing an embarrassment of no growth for three years.

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< p > Cangnan printing and packaging industry association staff said, "mutual insurance joint insurance problem is quite a lot, some enterprises are involved in real estate, finance and other industries and appear business difficulties."

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P, a local insider who does not want to be named, said that there are at least more than 20 enterprises in Cangnan like Rui Jiao group because there are problems with mutual insurance and joint guarantee.

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< p > from the Cangnan court, it was learned that from January 2014 to mid April, Cangnan courts accepted 1677 cases of economic and financial cases, involving 1 billion 249 million yuan in total, and I's situation.

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< p > for this reason, the head of the business department of the Cangnan County Bureau of letters has also admitted that the Cangnan enterprise mutual insurance joint insurance problem is more serious, so there are many enterprises facing difficulties in operation, but the specific figures are not convenient to disclose. "Lending funds can only be short-term turnover, which can not really solve the problem."

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< p > meanwhile, the person in charge said that the 80%~90% enterprises in Cangnan had mutual insurance and joint guarantee activities. This is a legacy problem. The guarantee chain is difficult to cut off. It can only give enterprises time to change space and slowly get out of the predicament.

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