The Noble Bird Is Unable To Restructure And May Face Bankruptcy And Delisting

Recently, Tianyan investigation revealed that the company had added a new consumption restriction order. The Executive Court was the people's Court of Huli District, Xiamen City, and the restricted consumers were guirenniao Co., Ltd. and its legal representative, Lin Tianfu. It is reported that guirenniao Co., Ltd. has a number of information about the person to be executed, with a total execution amount of 250 million yuan.
Once known as the "A-share sports brand No.1", the sports brand noble bird has been in a state of decline recently. On March 9, guirenniao Co., Ltd. issued a notice on the progress of restructuring, and 163 creditors have declared their claims to the administrator, totaling 4.093 billion yuan. In addition, the court has ruled that the noble bird will enter the reorganization procedure. If the reorganization fails, the company will face the risk of delisting. On March 16, guirenniao announced the recruitment and selection of investors for restructuring. As of March 29, there was only one investor who successfully applied for reorganization, and this may be the last "noble person" of noble bird.
One year after its listing, its market value reached 42.7 billion yuan, and its founder, Lin Tianfu, was the richest man in Quanzhou with a fortune of 19 billion yuan. However, in the past few years, the company has been faced with the dilemma of liquidity shortage, unable to repay debts, and the boss repeatedly on the "blacklist". The reasons behind this situation are worthy of further investigation.
Since its listing, the noble bird has started frequent cross industry mergers and acquisitions, implementing the "all-round sports" strategy, involving Internet + sports, sports brokerage, sports games and other fields, with an investment amount of 4.6 billion. However, the huge investment has not been effective, and the main business is no longer advantageous. The net worth of noble bird has been declining, and there is a loss in 2018.
Since then, the noble bird began to review its main business, but it was obviously of no help. Since the diversification expansion, the company has generated a huge amount of debt, but also faces the upsurge of store closures. The sale of assets is not enough to deal with huge debts, and the sharp closure of stores is the way to clear inventory and promote sales.
Obviously, the main business has been in a state of decline and can not be saved. The noble bird can only embark on the road of restructuring. If the restructuring is unable, bankruptcy and delisting are not far away.