In recent years, the market for home-based construction materials has been depressed, with closed shops and exits. In the 2023 annual newspaper published at the end of august, red star america and the house of kengo published data on the closure of businesses in the first half of the year: 9 in the first half of the year, around 500,000 m2 and 13 in the second half of the year。
In addition, since the beginning of this year, there have been many cases in the country where home-building stores have been closed down for reasons of business difficulties and serious losses, in which old shops have been brought to account for their debts, and in which many have been declared bankrupt and auctioned
Long star o'leroy's mall
We're out of business on september 30th
According to the mango love night tv channel, the long sand star's olyoya mall suddenly posted an announcement to consumers that they were about to cease operating. It was mentioned that, as business losses continued to expand, the mall was unsustainable and unable to continue. After careful study, it was decided to discontinue the operation of the red star orilloa mall and informed all businesses that the lease contract would not be renewed after the expiry of 30 june 2023, and that the sub-businesses would be given three months (i. E., until 30 september 2023) to return the goods, during which the merchants would not pay rent but only the resulting water and electricity charges。
However, the announcement that all businesses had been informed was overturned by the business, which expressed “no communication at all to our businesses”. The businessman mentioned that he had invested more than $10 million in the mall, five of which were suddenly announced last week, when he told the consumer that he would close down。
Another merchant stated that she had opened a store in november 2018, and then took another shop in the mall. It was unexpected that the opening of a new shop would take place in time, with an investment of more than $300,000 likely to be “drive”。
The store owner revealed that “there are real business problems on our side and there are serious losses” and that they will undertake a follow-up mapping exercise to find a reasonable solution to the current claims of the merchants。
Kim hua zhen market for building materials
Reorganization of bankruptcy
On 22 august, zhejiang sa termite monument inc. Issued an invitation to run business in the zhe china building materials market. The text reveals that the market for construction materials in china was liquidated on 25 june and that the market manager for construction materials in zhe china will publicly tender a restructuring of the zhe china building materials market project in ali to identify investors in the restructuring of zhe china building materials market ltd. At competitive prices。
It is known that the kim hua zhe china building materials market, which was established in december 1999 and has been in existence for 24 years, is located at 99th street, located in the eastern district of king hua city, covering an area of 250,000 m2 and operating in areas such as stone, lanterns, woodboards, ceramics, water heating, paint, etc. It includes well-known brands such as marco polo, mona lisa, jane, heroes, left, cbd, yongjie and soo, which include more than 4,000 business practitioners and are home to large, regulatory and branded professional construction materials markets in the western part of zhejiang。
The auction was held on property no. 99, located in the eastern part of the city of kinghua (a total of 158208. 92m2, with no allowance of 45031. 33m2, with state land-use rights of 50127. 84m2, including fixed decorations for the public part of the building, office equipment, etc.) and unlicensed structures and ancillary facilities, for the first time at a price of approximately $802 million, resulting in an expanse of 11,613 people, which was eventually taken at no price. The second round is scheduled for october 12, 10, at a start-up price of $561 million。
Three of beijing's old houses
Upgraded and vacated on 31 august
On 30 july, beijing announced that the market for construction materials in the yangtze industry, the orient home furniture lighting city and the orient homes ' fashion experience house would close at 18:30 on 31 august 2023. The merchants were also required to arrange the evacuation by 31 august in a reasonable manner, to clear and process their own samples, and to provide after-sales services to consumers in accordance with the law。
Unlike other malls, which were closed for serious losses, the announcement mentioned that the closure was due to plans to upgrade. It is understood that beijing has decided to overhaul the exterior and internal configuration of the original mall, while re-programming the various product areas, upgrading some of the brands and building an influential centre of home-based intelligent families at the yongquan camp in kyoto through upgrading services and optimizing the environment。
According to the data, the beijing daicheng building materials market was established in 1996 as one of the first specialized construction materials markets in beijing city, covering 100,000 square metres, and consisting of five thematic areas, namely, basic building materials, light distribution, hardware wholesale, tile-cleaning and glass-plated city. In 2018, the wholesale city of lamps on the south side of the market was vacated。
At the beginning of september, according to 77-degree reports, the market for construction materials at the jade springs has been relocated and is currently in the renovation phase. It is planned to upgrade the market to a home-based smart home experience centre (the jade springs camp), which will also include the orient home-based plaza, and to expand significantly the operation of the family-based jade springs camp。
Ikea shanghai city shop
Pilot was completed and stopped at the end of 2023
On the morning of 13 july, after a comprehensive assessment of the overall configuration of ikea market in shanghai and the long-term viability of the zingan city shop, ikea decided to end the pilot of the zianyang city shop and planned to close at the end of this year。
It is understood that ikea shanghai jingan is its first urban door shop in china, which was officially opened on 23 july 2020, next to the shanghai jingan temple. Unlike ikea, ikea has a 3000-m2 area known as “mini” and its greatest feature is small and sophisticated, with more pro-people experience. Although the shanghai city shop was shut down, ikea indicated that this did not mean that ikea would cease new exploration of the shanghai and chinese markets。
However, some netizens indicated that the closure of the shop was inevitable, that the rent was said to be over $20 million a year, and that while there was a good flow of people, fewer people were looking at it。
Before that, ikea had closed two shops in china: guiyang and yangpo, shanghai。
A family
The debt is over $50 million
On 5 july, an old stock market holding company, inc., issued an announcement stating that on 12 june, qingdao wingsei opened a commercial trade company, inc. (attendees) under the provisions of chapter 32 of the companies (closure and miscellaneous provisions) ordinance, the high court of the hong kong special administrative region is required to submit a settlement to clear the company. As at 12 june, the company owed the applicant a total of hk$57,482. 4 million (approximately hk$53,268. 8 million), of which hk$41,566,000 represented unpaid principal on bonds and hk$15,927,000 represented accrued interest。
It is understood that the one-stop shop was created in 1997 as a regional old-school mall, with its main operation being the sale and distribution of building and home improvement materials and furniture, while providing interior design and engineering services to clients. In november 2015, a group was successfully listed on the main board of the hong kong joint exchange. After more than 20 years of development, a good partnership has been established with hundreds of well-known domestic and foreign brands, representing well-known domestic and foreign builders, with more than 10,000 main product types, covering almost all areas of building materials home-based products, making it the most well-distributed one-stop home-based market for goods in the south of kancheng region。
In response to the incident, a holding stock indicated that the request did not represent the interests of other group stakeholders and could undermine its value. The company is actively consulting with the applicant in a friendly manner so that it may withdraw its offer。
Shandong furma is the ink shop
Business difficulties. Closed on may 31st
On 28 april, a number of merchants in shandong furma, the ink shop, reported that they had received a “notice of non-renewal of the contract” from the mall on suspicion that the other party had done so in preparation for closing the shop。
One merchant said that he had more than 200 square metres of shop space, which he had refurbished at the end of may last year after the expiration of the contract, and that it had cost more than $300,000, which was less than a year before he heard of the “closed shop”. “if rumours become a reality, then the loss will be too great.” others said that they had been in the mall for less than two years and had been informed when millions of dollars had been spent on the renovation of shop space in preparation for its revitalization。
In response, the manager-in-charge of the mall, wang, stated that the mall also wanted to continue to operate, but that it was currently facing difficulties and was due to the reluctance of businesses to renew their contracts because of high rents. He further argues that “the contract will be automatically dissolved upon expiry at the end of may and that neither party will constitute a breach of contract”. On the afternoon of 5 may, wang's manager said on the telephone that fulma's ink shop would close on 31 may。
Chongqing daechon international building materials city
We'll start at $1. 55 billion and run three shifts
On 15 april, chongqing dae-chon international construction materials city was placed at a public auction on a web-based judicial auction, including land tenure, houses, vehicles and electronic office equipment under the name of chongqing dae-chon group, at a start-up price of $1. 55 billion。
It is understood that daechon international building materials city is a special area for the purchase of building materials by the chongqing daechuan group. The project has a total investment of nearly $7. 8 billion and includes a wide range of household items such as stone, ceramics, tiles, bathing equipment, plumbing, household appliances and homemade household goods. The plan covers 3,000 acres, with a total of 3 million m2。
Daechon international was auctioned because neither of the chongqing daechon group's draft bankruptcy reorganization plans had been adopted and bankruptcy was declared on october 2022 and 8th. According to the auction report, the chongqing daecheon group has an external debt of 3. 53 billion yuan and has been without funds for a long time to settle its debts。
To date, the daechuan international building materials city has experienced three rotations, from 1. 55 billion yuan to 993 million yuan from start-up, and has still not been offered。
