Why did Chengfeng Furniture go bankrupt? At present, it has officially entered the bankruptcy liquidation procedure.

I believe many friends have heard about the bankruptcy of Chengfeng Furniture recently. As a well-known furniture enterprise in China, it is really regrettable that it has finally fallen into such a state. Then, today I will come with you to see why Chengfeng Furniture went bankrupt. I hope I can help you.

According to the announcement of National Enterprise Bankruptcy and Reorganization Case Information Network on August 15, Chengfeng Furniture (China) Co., Ltd. (hereinafter referred to as "Chengfeng Furniture") was handed over to the administrator for registration and review of bankruptcy claims on August 14, and officially entered the bankruptcy liquidation procedure.

In the office furniture industry, the company's position can not be underestimated. As one of the largest furniture production bases in the Mainland, Chengfeng Furniture is also one of the largest suppliers in the office furniture industry. Chengfeng Furniture was selected into the "Green List" of furniture procurement made by the government in 2006, and ranked 10th among the most competitive office furniture suppliers in China in 20 15.

However, just a few years later, the company's situation began to deteriorate. On 20 16, Chengfeng Furniture was randomly selected by Fujian Quality Supervision Bureau and a batch of items on cigarette burning resistance of tea tables failed. On 20 17, Fuqing Municipal Bureau of Human Resources and Social Security revealed that Chengfeng Furniture was suspected of refusing to pay labor remuneration in arrears.

According to the public introduction, Chengfeng Furniture (China) Co., Ltd. is a multi-industry enterprise group integrating technology, industry, trade, mining and service, taking furniture manufacturing as the industry and involved in high-tech, logistics, petrochemical, real estate, mining and other fields, with more than 5,000 employees and total assets of about 3 billion yuan. Chengfeng Group has four entity manufacturing companies, mainly engaged in high-end office furniture, mahogany classical furniture, steel and wood furniture, leather sofas and furniture hardware. The enterprise has won "China Famous Trademark" and "Top Ten Brands of Office Furniture in China" and is one of the excellent office furniture suppliers in China. It has been rated as the designated supplier of office furniture for the central and state organs for many years in a row, and was awarded "Top 100 Star Enterprises" by the Overseas Chinese Affairs Office of the State Council.

According to another introduction, Chengfeng Furniture (China) Co., Ltd. is located in Fuqing City, Fujian Province, covering an area of more than 290,000 square meters, with an annual production capacity of 800,000 sets. It is one of the largest furniture production bases in mainland China so far.

Why did Chengfeng Furniture go bankrupt?

In the past 20 years, Chengfeng furniture has been recognized by the industry, and corporate ambitions are gradually sprouting. In June, 20001,Chengfeng Real Estate Development (Fuqing) Co., Ltd. was established, and the "Chengfeng Century Park" real estate project in Fuqing was fully launched in 2004. In 2005 and 2006, Chengfeng Group invested in two real estate projects in Xing 'an League and Shenyang.

With industrial adjustment and capital expansion, enterprises have gradually developed into a diversified industrial investment pattern. Chengfeng Group then set foot in real estate, energy exploitation, chemical trade, logistics, high-tech industries (photoelectric industry, biotechnology) and other industries.

In the field of furniture manufacturing, Chengfeng Furniture is mainly an OEM furniture export enterprise. It cooperates with Italian companies "NICOLETTI Nicoletti" and "caliaitalia Caglia", and its products are exported to the United States, Britain, France, Italy, Australia, Canada, Belgium and the Middle East without inspection.

However, with the weakness of the international economic situation, the company's operation has also been affected. In order to get out of the development trough, the company began to create its own brand "Yidia". 20 1 1 At the beginning of the year, Chengfeng Group cooperated with Australia's 3ARTGROUP to promote the Yidia sofa brand to the Australian market and further expand its exports.

20 17 Fuqing human resources and social security bureau announced seven major labor security violations to the society. Among them, Chengfeng Furniture is suspected of refusing to pay unpaid labor remuneration. According to the announcement, after investigation, the unit owed Yang and other five security guards a total of 32,220 yuan from August 2065,438+August 2007 to June 65,438+10. On February 2, 20 18, Fuqing Municipal Bureau of Human Resources and Social Security transferred the case to Fuqing Municipal Public Security Bureau for investigation on suspicion of refusing to pay labor remuneration.

On July 8, 2065438, another enterprise under Chengfeng Group, Chengfeng Real Estate Development (Fuqing) Co., Ltd. (hereinafter referred to as "Chengfeng Real Estate"), was also put on file for bankruptcy liquidation. According to the data, Chengfeng Group has been caught in a lot of litigation disputes in recent years, involving financial disputes with banks and other financial institutions, labor disputes with employees and so on.

In the first-instance civil judgment of Chen Jiao against Chengfeng Real Estate and He Shanxiang in June 65438+1October 65438+August this year, the plaintiff claimed that Chengfeng Real Estate borrowed a total of180,000 yuan from Chen Jiao due to the company's lack of funds, but the principal and interest of the loan were not repaid.