Project managers at Nanjing Yaguangya partially requested the return of the deposit, but the company stated that the project was not finished and therefore could not be returned. The Weile side was also unwilling to make hasty investments. Currently, the police and Baimaxian District Housing and Urban-Rural Development Bureau have intervened in handling the situation, and the two companies will further negotiate.
There are more than 300 decoration owners involved. An informed person told reporters that Nanjing Yaguangya is not a direct branch store of Beijing Yaguangya, but rather a franchise decoration enterprise, with the legal representative surnamed Xu. Management has always been handled by a professional manager surnamed Zhou.
According to relevant personnel from Weile Decoration Company, Weile and Nanjing Yaguangya only signed an acquisition intent agreement, which clearly noted that Weile would only assume debts within 8.6 million yuan, and any excess debt would not be responsible. It was understood that Nanjing Yaguangya's deficit of over 18 million yuan includes construction site labor fees, maintenance funds for projects previously done by project managers, and quality assurance deposits paid by project managers upon joining. The 8.6 million yuan would only be enough to cover the labor fees at the construction sites.
@Qingyi Mozi: Absolutely the first case, announcing its own bankruptcy through its official microblog.
Nanjing Yaguangya currently has more than 300 decorating customers, mostly home decoration owners. With the current difficulties in the company's operation, will the owners' renovations be affected?
Official Microblog: Weibo Recommendation | Today's Weibo Hotspots
Manager Wu said that Nanjing Yaguangya mainly does home renovations, with 88 project managers, each having at least 10 migrant workers under them. In the past month, wages haven't been issued, and the company owes hundreds of thousands of yuan in project fees and quality assurance deposits to the workers.
@Please Call Me Li Guniang: Yaguangya went bankrupt, what a pity...
â–¡Internship reporter Bi Xiaojie, Fast Daily reporter Gu Yuansen
Yesterday afternoon, the Fast Daily contacted Nanjing Yaguangya General Manager Zhou, who stated: "I am no longer the boss of Yaguangya, the acquisition is a matter between the bosses of the two companies."
The project managers expressed that there are still many unfinished family decoration projects in their hands, but the company's boss can no longer be reached. "Project costs are just one aspect. Each project manager has paid 20,000 yuan as a deposit to the company, and now it is uncertain whether the deposit can be recovered." These project managers said that Nanjing Yaguangya's debt has reached over 18 million yuan, and they worry that the company may no longer have the money to pay employees and various project managers.
In fact, in the last half month, Nanjing Yaguangya has been in turmoil, with several days of project managers blocking the company entrance and holding banners to demand payment.
Relevant personnel said that currently there is no issue of unpaid migrant worker wages. Project managers want to take away three aspects of money at once, but the company can only pay the construction site labor fees. "Weile Company's acquisition of Yaguangya considers it worth only 8.6 million yuan, exceeding this number means it cannot be acquired."
An industry insider told reporters that the best method right now is for project managers to accept the opinions of the new takeover party, first collect the construction fees and pay the workers' wages. As for the other two aspects of costs, they need to be resolved through negotiation between the two companies.
Reporter Investigation
Poor enterprise management, debts reaching over 18 million yuan, company mergers and acquisitions encountering obstacles, decoration projects unable to continue normally... The Fast Daily learned that Nanjing Yaguangya is currently in turmoil, with housing construction, public security departments already intervening in handling the situation.
Beijing Yaguangya Decoration Nanjing Company (hereinafter referred to as Nanjing Yaguangya) was once ranked among the top three in Nanjing's decoration industry and is quite well-known in the industry. At around 3 PM yesterday afternoon, the company's Sina verified official microblog suddenly announced its bankruptcy, being called by real estate professionals as "the first nationwide case of an official microblog announcing the company's bankruptcy." However, after just over an hour, this microblog post was deleted, citing "account hacked, message not officially released."
@Yu Zhijie V: Official... the last microblog post, what kind of mood were the microblog operators of this company in when they sent out this post? A microblog is a sentiment, and this microblog chills to the bone.
Nanjing Yaguangya relevant personnel stated that actually, a month ago, the company's finances were running normally without any arrears in payments to project managers and migrant workers. Just in the recent month, due to issues with corporate mergers and acquisitions, the company operations became abnormal. There are more than 80 project managers in the company, but only some of them were causing trouble. The company owes them only hundreds of thousands of yuan, not the millions they claimed, "a month's salary is at most five or sixty thousand yuan. They lumped the deposit together, making it into millions."
@Nanjing Sina Second-hand Housing: The first case of a certified official microblog announcing its own company's bankruptcy on Sina Weibo. Having a microblog doesn't necessarily mean advanced productivity, and having a V doesn't mean the company stays youthful forever. This might be the first company in Sina Weibo's verified accounts to announce its bankruptcy via microblog. In the cold season of real estate, related upstream and downstream industries are all suffering. The bankruptcy of Yaguangya Decoration Company is proof.
@Aimeemaggie: The loneliness of the end of a song...
A project manager surnamed Wu stated that more than a month ago, Nanjing Yaguangya was still operating normally, but later problems arose, and the project managers couldn't get money from the company, unable to pay wages to the workers below, and the company boss also disappeared.
Regarding this, Chen Lijun stated that after negotiations, a part of the owners whose renovation projects are nearing completion are rushing to complete the work; another part of the renovation projects have been taken over by Weile Decoration Company, while some owners have yet to be contacted. After all parties negotiated, it was determined that the interests of the renovation owners must not be harmed, and the wages of the renovation workers must not be delayed.
Unable to withstand the harsh winter of the industry
"The company is in chaos, with only a few dozen yuan on the books"
According to Nanjing Yaguangya relevant personnel, why hasn't the acquisition been completed since early November?
"Although we persisted, we ultimately couldn't withstand the harsh winter of the decoration industry... the official last microblog post."
Project managers collectively protested outside the company door for salaries
It is strange that after just over an hour, this microblog post was deleted. Nanjing Sina Lexue's official microblog stated: After verification, the microblog posted by Yaguangya Nanjing Company was due to account hacking, not officially released, and has been deleted.
News Event
Nanjing Yaguangya relevant personnel said that due to poor management and excessively high operating costs, internal capital chains broke, causing severe losses to the company, with debts reaching over 18 million yuan. In the past month, operations have been abnormal, and currently, all the company's accounts have been frozen by the bank.
"Once a very glorious third-ranked decoration company in Nanjing, Yaguangya Decoration collapsed! Although we tried our best, we ultimately couldn't withstand the harsh winter of the decoration industry..."
Some project managers proposed that the deposit could be refunded first, but Nanjing Yaguangya relevant personnel stated that the project managers currently have many unfinished family decoration projects. According to regulations, the project is not finished, so the deposit cannot be refunded. Otherwise, if problems arise, it would be difficult for the owners to protect their rights. The project managers proposed that Weile Company could fund the solution, but Weile Company believed that the company acquisition had not been completed, the legal representative of Nanjing Yaguangya, Mr. Xu, had not appeared, and the debt problem of over 10 million yuan had not been resolved. Therefore, Weile Company could not hastily provide funding.
At the beginning of November, Weile Decoration Company and Nanjing Yaguangya began discussing acquisition matters. Relevant personnel from Weile Decoration Company stated that the acquisition intent agreement clearly noted that Weile would only assume debts within 8.6 million yuan, and any excess would not be responsible.
An informed person stated that Nanjing Yaguangya is not a direct branch store of Beijing Yaguangya, but rather a franchise decoration enterprise. Originally, it was a well-performing decoration company with skilled workers and once ranked among the top three in Nanjing's decoration industry.
News Follow-up
Relevant personnel from Nanjing Yaguangya stated that their company was originally a well-performing decoration company in Nanjing. Due to poor management and excessively high operating costs, internal capital chains broke, causing severe losses to the company, with debts reaching over 18 million yuan. Additionally, the company borrowed 2 million yuan from the bank, and because Mr. Xu, the boss, couldn't repay the loan, his BMW car has been seized. Currently, all the company's accounts have been frozen by the bank.
At around 5 PM yesterday afternoon, Chen Lijun, General Manager of Weile Decoration Company, told reporters that currently, the police, Baimaxian District Housing and Urban-Rural Development Bureau, and other departments have intervened in handling the situation and have conducted multiple negotiations. However, due to the involvement of two companies, the situation is complicated, and there is currently no complete solution plan. Under the coordination of relevant departments, the two companies will further negotiate.
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@wing4angel: This company attracted us to choose them for our decoration last month, and we almost signed the contract, but we pulled back in time...
At around 3 PM yesterday afternoon, Nanjing Yaguangya posted this information on its official microblog, which was quickly screenshot and caused heated discussions online.
Relevant personnel from Nanjing Yaguangya stated that at the beginning of November, Weile Decoration Company and Nanjing Yaguangya discussed acquisition-related matters, but the acquisition has not been completed. This means that Weile Company is currently not the legal entity or investor of Nanjing Yaguangya.
Chen Lijun, General Manager of Weile Decoration Company, said that regarding Nanjing Yaguangya's situation, the provincial and municipal governments attach great importance to it, and the management department has convened multiple negotiations between Nanjing Yaguangya and Weile companies. However, Xu, the responsible person of Nanjing Yaguangya, has not been in Nanjing recently and was only contacted a few days ago. He claims to be in his hometown in Anhui, with poor health.
Subsequently, the Fast Daily contacted Chen Lijun, General Manager of Weile Decoration Company. Chen Lijun told reporters that currently, Nanjing Yaguangya cannot be considered bankrupt. Whether legally or procedurally, Nanjing Yaguangya still exists. "Currently, there are only a few dozen yuan on the company's books, the entire company is in chaos, but it cannot be said that the company has gone bankrupt."