Suppliers were forced to shut down the industrial chain of Wenzhou's glasses industry

Suppliers were forced to shut down the industrial chain of Wenzhou's glasses industry

The reporter reported again that the boss of Wenzhou glasses giant Xintai Group was missing, and it was rumored that he owed more than 2 billion yuan on the Internet, tracking the reporter of this newspaper in Wenzhou Gan Lingfeng A few days ago, Hu Fulin, chairman of Xintai Group, a leading enterprise in Wenzhou's glasses industry, ran away and reported that he owed more than 2 billion yuan. While the local government was busy dealing with the aftermath of Xintai Group, an even bigger crisis came unexpectedly - a number of suppliers were forced to stop work, related companies were in trouble...... promised to guarantee employee compensation first, and Xintai Group had more than 3,000 employees, and after Hu Fulin ran away, there were still two months of unpaid wages. According to the regulations, old employees should be compensated according to their length of service, such as 5 months' wages for 5 years of service. The boss ran away, and the employees were worried that they would not be able to get the money, so they blocked the intersection twice in succession, hoping to solve it as soon as possible. On the afternoon of September 23, employees issued a notice at the door of Xintai Group, hoping to enter liquidation and bankruptcy proceedings. The task force reacted quickly and the next day paid the employees two months in arrears, but the compensation had not yet been paid. Yesterday, Li Xiuzhen, head of Ouhai District, Wenzhou City, said that in accordance with the law, after the enterprise initiates bankruptcy and asset liquidation procedures, the court will give priority to the return of employee compensation. In addition, in order to motivate the production enthusiasm of employees, Xintai Group has given some old employees a certain amount of shares. Regarding the issue of shares, Li Xiuzhen believes that employees with shares are equal to shareholders and are jointly and severally liable. Suppliers and mutual insurance enterprises are chased by banks, and Wenzhou enterprises go to banks for loans, and most of them are in the mode of mutual insurance. There are a total of more than a dozen large-scale enterprises that guarantee each other with Xintai Group. After Hu Fulin ran away, the bank no longer recognized the guarantee relationship between Xintai and these enterprises. In the past few days, the banks that have learned the news have come to these enterprises to collect loans and do not renew their loans, which makes the cash flow of these enterprises difficult. The Wenzhou glasses industry is in a greater predicament. Due to the large amount of arrears owed by Xintai Group to upstream suppliers, upstream suppliers were also collected by banks or affiliated enterprises. On the morning of September 24, five suppliers were forced to announce a shutdown, and some suppliers followed. According to industry insiders, Wenzhou generally produces high-end glasses, and the raw materials are imported from abroad after the bank opens a letter of credit. Now that the bank has refused to open the letter of credit, coupled with the suspension of some suppliers, Wenzhou eyewear enterprises are facing the danger of industrial chain disruption. At present, the Wenzhou Optical Chamber of Commerce has formed a report on the relevant information and sent it to Wenzhou City and relevant departments. The department is also actively dealing with it. Yesterday, the order of Xintai Group has been received by Taiheng Group。