Liability, Simmons, 1 dollar, selling Sichuan furniture companies are not interested

Simmons has a long history. The American Simmons, founded in 1875, is currently the world's most famous top mattress manufacturer, and its products are sold all over the world. However, the news that Xi Mengsi’s one-dollar transfer has recently arrived is quite shocking. Simmons 1 dollar sounds like a fantasy. But is Simmons a dollar or a gimmick? Is the famous American furniture company falling behind? However, since the news of the 1 dollar of Mengsi on December 22, Chengdu furniture companies are not interested. The US Simmons Company appeared on the “Overseas Assets M&A Project Promotion Information” recently published by the Guangzhou Equity Exchange. The company is preparing to package and sell all assets including brands, channels, machines and patents at a starting price of US$1. Behind the $1 mark, it is the fact that Simmons has a total debt of $1 billion, a 17% decline in the first half of 2009, and a loss of $9 million. If it goes through bankruptcy protection procedures, its liabilities can be reduced by about 570 million US dollars. After buying Simmons assets, it will bear about 430 million US dollars (about 3 billion yuan) of debt. On December 22, the author interviewed Rong Weiwei, secretary general of the Sichuan Furniture Import and Export Chamber of Commerce. He said that the conditions for Chengdu's local furniture companies to enter the overseas market on a large scale are not mature, and expanding the domestic market is the focus of local furniture companies. Su Ning, the general manager of San Diego Furniture, told the author that the world's furniture giant Simmons can come to China to sell, indicating that the Chinese market is huge. However, there is a huge bubble in the assets being sold, so companies are reluctant to participate in the auction. According to a person familiar with the matter, Xi Mengsi’s boss left Chengdu on the 21st. In Chengdu, he did not disclose the company’s $1 sale to his Chengdu counterpart. On December 22, the author also contacted Song Hongbing, president of the Global Finance and Economics Institute. Song Hongbing said that Simmons's one-dollar auction is a concept. The core is that Simmons has a huge marketing system in the world. Simmons has about 13,000 outlet stores worldwide, including about 35 in China, and the Simmons brand is valued at about $500 million. If Chinese companies want to take over the domestic market, they should consider whether it is cost-effective to spend about 3 billion yuan to buy their brands and domestic sales channels. If you are planning to expand overseas, Simmons' global marketing system is helpful for the development of the company. .

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