Dongguan Old Brand Enterprise Broke Off Its Capital Chain Due To The Cancellation Of Foreign Trade Orders.

The shock wave caused by the outbreak of the global epidemic has arrived. Recently, the toy factory of Dongguan's old Hong Kong funded enterprise suddenly announced its bankruptcy and dismissed employees, which shocked the industry for a while.

Bulletin of Dongguan tea hill people's Branch Bureau shows that: Recently, due to the epidemic situation at home and abroad, the cancellation of foreign trade orders of Dongguan panda toys Co., Ltd. resulted in a sharp decrease in the volume of business and the fragmentation of capital chain. According to investigation, Dongguan Pan Da Toys Co., Ltd. is located in the Qilin City Industrial Zone, Zeng village, Cha Shan town, which was founded in 1992. Production and sale of toys, clothing bags and woven bags 。

According to online public information, Dongguan FD Toys Co., Ltd. was founded in 1992, and has more than 1200 employees. It was a large toy manufacturer mainly producing stuffed stuffed and electric toys. The company is located in Hongkong, and the Dongguan factory occupies 35000 square meters. Over the past 28 years, the company has relied on excellent product quality and good business reputation. In the past more than 20 years, it has established a solid commercial relationship with many MCDONALD, DISNEY, WALMART, TESCO, TARGET, HASBRO, etc. Our products sell well in many countries and regions such as Europe, America, Asia and the Middle East.

It is reported that the Pan Da toy company was under the influence of trade war last year, and the business pressure is increasing. Unexpectedly, after the outbreak of the global epidemic, European and American customers quickly delayed and cancelled orders, which became the last straw to crush the pandemic. In the face of bank stop lending, suppliers urged money, and the toy chain broke up. In desperation, it can only declare bankruptcy.

The collapse of the toy factory is the inevitable result of the deteriorating living environment of toys and other labor-intensive industries in recent years, and is also a frequent occurrence in China's economic transformation and upgrading. Over the past ten years, labor costs, factory rents, raw materials and other costs have risen sharply, making it extremely difficult for companies such as Pan Da to rely heavily on artificial and raw materials. The Sino US trade war also led to the rapid deterioration of the external business environment. Before the outbreak, the company was already in a dilemma of survival. According to the data from the sky eye survey, the company's legal representative has changed, showing that the company has been abnormal.

The collapse of this old Hong Kong enterprise is really a tear in the eye. The feeling of an old employee is sad. What happened today is vivid. It is too abrupt. For the first time in more than ten years of career, it is very puzzled and overwhelmed. It has been 13 years since I joined pan. My company grew up with me and witnessed the vicissitude of the times. The company has been doing business for 28 years. Although it has been faced with ups and down, all these years have survived.