Double Day: The Domestic Textile Market Is Bustling, And Foreign Old Textile Enterprises Plan To Lay Off More Than 20000 People!

If you go to interview people who do textile trade in China recently, it is estimated that nine out of ten people can chat with you happily. Talking about the recent great domestic textile market, it is not only soft handed after receiving orders, but also the price of the whole textile industry is rising. It seems that they want to earn back all the money they didn't make before. Everyone has the anger of "fighting" 。

First of all, the second outbreak of the epidemic has brought about turmoil in the market, Due to the impact of the epidemic, many enterprises have been forced to lay off staff, including old textile enterprises.

　　 Old British Wool Textile Group plans to cut 21000 jobs

The Edinburgh wool group owned by British billionaire Philip day is on the verge of bankruptcy, the Daily Telegraph reported on the 9th. The group plans to cut 21000 jobs and close most of its stores.

It is understood that this old Scottish clothing manufacturer mainly produces Harris tweed coats and cashmere sweaters, and owns several brands such as peacocks, Jaeger, Austin reed and Jacques vert. Philip day, the group's owner, said the group plans to appoint managers to restructure the company and intends to sell part of its business to maintain operations.

　　 More than 500 large American enterprises apply for bankruptcy

In the context of the new coronavirus pandemic, the number of US corporate bankruptcies is also increasing. Not only many small and medium-sized enterprises closed down, but also some large companies were affected by the epidemic.

According to S & P's global market intelligence statistics, as of October 4, There are 504 large-scale enterprises applying for bankruptcy in the United States this year , more than the number of bankruptcy filings in any comparable period since 2010. Consumer, industrial and energy companies account for the majority of bankruptcy applications.

In terms of months, since this year, the number of bankruptcies of large enterprises in the United States from June to July was the largest, and that in February was the least.

From September 21 to October 4, a large number of American enterprises in energy and consumption industries still filed for bankruptcy, including some large energy companies with assets of more than US $500 million (such as Lonestar resources and oasis).

On September 30, oasis, a large energy company, filed for bankruptcy, one of the few companies that filed for bankruptcy during the year, claiming debt of more than $1 billion. The company plans to cut $5.2 billion in debt through a restructuring plan with creditors.

S & P's above bankruptcy analysis mainly includes public debt listed companies or private companies. When applying for bankruptcy, the assets or liabilities of listed companies listed in the public debt company list must be at least $2 million. By contrast, private companies must include at least $10 million.

It is learned that if an enterprise applies for Chapter 11 bankruptcy reorganization, the court will require the applicant to continue to operate under its supervision and formulate a corporate restructuring plan, with the fundamental purpose of saving the enterprise. In the history of the United States, many enterprises have experienced the revival of Chapter 11 of the bankruptcy law, such as general motors.

From the historical experience, it is not easy to realize the reorganization. The expenses of the industry giants may exceed ten million US dollars, and the whole bankruptcy and reorganization process takes six months to several years. According to the data of the US Department of justice, only 10% - 12% of the enterprises can be released from bankruptcy after successful restructuring and return to the right track, and most of them end up in liquidation.

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　　 More than 600 companies have closed down in Japan

In the wake of the United States, the wave of Japanese enterprise bankruptcy is becoming more and more intense.

According to the statistics of imperial data bank, a Japanese credit survey company, as of October 9, 600 Japanese enterprises have been bankrupt due to the epidemic since February this year. Among them, 86 restaurants suffered the most, and 59 hotels and other accommodation enterprises went bankrupt. In addition, small retail enterprises are also affected.

Data released by Japan's Ministry of health, health and labor showed that as of October 2, 63347 people were dismissed or suspended in the country.

In the second quarter of this year, Japan's GDP shrank by 28.1% year-on-year, which is the third consecutive quarter of decline Japan's economy has seen its biggest decline since 1980.

According to public information, the Japanese government has launched two rounds of economic assistance to prevent enterprise bankruptcy and sharp increase in unemployment rate. The scale of the two rounds of economic assistance exceeds 234 trillion yen (about 14.8 trillion yuan), accounting for nearly 40% of the country's GDP.