Retail Formats
The Warning Significance of Hunan New Yijia Supermarket's Bankruptcy
On June 16, the Changsha Intermediate People's Court issued an announcement regarding the bankruptcy liquidation case of Hunan New Yijia Commercial Investment Co., Ltd., selecting an administrator through competitive means. At its peak, New Yijia Supermarket operated 112 hypermarkets with annual sales of 17.4 billion yuan, and was one of the top 20 commercial enterprises cultivated by the Ministry of Commerce. Of course, the Hunan company is only a subsidiary of New Yijia; its parent company, Shenzhen-based New Yijia Supermarket Co., Ltd., has not declared bankruptcy and is reportedly in talks for acquisition, so its future remains uncertain; but even if it were to declare bankruptcy now, compared to the average lifespan of 7-8 years for Chinese group companies, New Yijia would not be considered a 'short-lived' enterprise.
老笑