Jiangnan Leather Factory Closed Down

- Sep 21, 2018-

In August, Weibo had a hot search that was not related to the star gossip, but it also had some entertainment colors: Jiangnan Leather Factory in Shenqu really closed down.


A notice published in the 12th edition of Wenzhou Evening News on August 8 showed that the manager of Zhejiang Jiangnan Leather Co., Ltd. was facing the creditor of the company and implementing the second and final distribution of its bankruptcy property.


Many people know that the Wenzhou factory, which was closed because the boss ran a debt with a small scorpion, really existed, but the story is far less like the song in the song.


The boss, Huang He, does have someone, but there is no small scorpion. It is actually his wife who runs with him. There is no so-called wage arrears after the factory is closed. Therefore, there is no shoe bag to sell the factory to fill the deficit. In the end, the company finally relied on selling assets to repay the debts owed; the actual total debt was about 230 million, and the 350 million songs sung in the song were not small.


“This is the most common kind of downturn in Wenzhou enterprises,” said Anke, a customer manager at a commercial bank in Wenzhou. He is a native of Wenzhou, but he has no impression of the Jiangnan Leather Factory, which is famous throughout the country. "The Jiangnan Leather Factory should not be known to many people in Wenzhou. You said that I have a little impression on the Divine Comedy. Which Wenzhou person has not run around. The relatives and friends of Lu, especially in those two years, have seen too much, and everyone is used to it."


The two years referred to around 2008. Since then, the news of the closure of private enterprises in Wenzhou has gradually increased.


“Hangzhou Net” mentioned in a report published in 2009 that the then Wenzhou Mayor Zhao Yide revealed at the “Certificate of 2008 Wenzhou Top 100 Enterprises” that since the financial crisis, “8.5% of SMEs have closed down or changed production. ".


The footwear industry is very important to the Wenzhou economy. According to the data released by the Wenzhou Statistics Bureau, from 2008 to 2017, the total output value of Wenzhou shoe leather industry can occupy more than 20% of Wenzhou's industrial production value every year. Due to the large base of enterprises and the large number of enterprises above designated size, the probability of giant thunderstorms is naturally higher.


The Ba Li Group is the most mentioned example. It was the first enterprise group in Zhejiang leather shoes industry approved by Zhejiang Industrial and Commercial Bureau and Wenzhou Municipal People's Government. But in 2011, as the boss lost its debt, the factory suddenly stopped production and dissolved.


In 2013, Gilda, who once had the title of “China Leather Shoe King”, also announced that he had been in a difficult business for many years. The capital chain situation was worrying and he needed to seek the government to reorganize the company.


After the news of this series, the overall reputation of Wenzhou enterprises fell to the bottom. In terms of shoe enterprises, no one will remember the title of “shoe king”. “Jiangnan Leather Factory” is the new synonym for Wenzhou shoe enterprises.


This is also why in 2013 there will be hundreds of Sichuan Wenzhou businessmen to carry out collective rights protection. They collected evidence and reported it to the local industry and commerce, urban management, public security and other departments, demanding that the "Jiangnan Tannery Divine Recording" and other methods and behaviors to destroy the Wenzhou business be cracked down.


"It is ironic that Wenzhou people actually love the credibility most, and they are proud of their reputation. But over the years, now you said that I am Wenzhou boss and Wenzhou company, and have become the most unreputable person and enterprise. I didn’t say anything in the middle of the game,” said Xi Lili, the second generation of shoes.


Many Wenzhou businessmen have invariably set the “turning point” of entrepreneurship in 2008. It used to be the best year they thought, but it didn't seem to be the beginning of a bad thing.


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