On March 9, VIP Bird routinely released the latest announcement on the progress of restructuring. The announcement shows that 163 creditors have declared their claims to the administrator, with a declared amount of * * * 4.093 billion yuan. According to its last routine announcement, as of June 65438+1October 1 1, the number of creditors was 154. The generation of sports brand kings is coming to an end.
Seven years after listing, the market value of VIP bird has evaporated by over 40 billion yuan, and the company faces multiple unfavorable situations such as huge performance loss, loan default and high goodwill. Due to its "14 VIP bird" corporate bonds and breach of contract, the bondholders filed a property preservation lawsuit, and their real estate, land, subsidiaries and shareholding companies were basically frozen. In addition, the total loan principal of VIP Bird in various banks is 1, 4 1 billion yuan, all of which are overdue. In addition to the company's assets, Fred Lam, the founder of VIP Bird, was also served with court summons and consumption restriction orders for five consecutive times due to debt default.
In 20 14, the VIP bird, known as "the first stock of A-share sports brand", landed in A-share, with the highest market value exceeding 40 billion yuan.
However, the good times did not last long. In the second year of listing, a series of radical operations of VIP bird laid a curse for the present situation. 15 years, the well-funded VIP bird is ambitious, trying to fight in many fields and determined to become a "sports industrialization group based on the manufacturing of sports apparel products and the coordinated development of various sports industry forms".
It has invested heavily in Hupu Sports to become its second largest shareholder, and established a sports industry fund with a total amount of 2 billion yuan with Hupu * * to invest in several sub-sectors of the sports industry. In addition to Tigers Sports, Guirenbird also acquired and merged sports-related enterprises such as Kangpaisi Sports, Jiezhixing, and Shoe Library. This series of M&A actions also made the net cash outflow of investment activities of VIP bird reach an astonishing 556 million yuan,13170 thousand yuan and 992 million yuan respectively during the period of15-170 thousand yuan.
After the merger, the business scope of Guirenniao Company has covered sports economy, event hosting, sports+Internet, sports games, physical fitness and other fields. The VIP bird in multi-line operation is slightly weak, and it is difficult for many companies to bring corresponding performance to VIP bird. They make provision for impairment of goodwill almost every year, and finally these acquired assets end up being sold at low prices.
Since 18, Guirenbird has sold shares in companies such as Hupu and Compass, and at the same time closed nearly 3,000 franchise stores and opened more than 1000 direct stores. However, strategic mistakes have once again made the financial situation of the VIP bird worse. The staff salaries and store management fees of direct stores are beyond the imagination of noble birds. At the same time, due to fierce brand competition, the company's inventory accumulation is more serious, and it can only live by promotion.
Years of performance losses have also led to the deterioration of the financing situation of VIP birds. The annual report of Guirenbird 19 shows that because the company cannot find new financing channels in the capital market, some financial institutions continue to press loans or improve credit conditions for the company, and in order to maintain the credit of existing financial institutions, the land, houses and equity assets of important subsidiaries have been pledged to the outside world.
1987, Fred Lam founded Guiniao, a former national brand, and he once became the richest man in Quanzhou, Fujian with the value of 190 billion contributed by Guiniao. But unlike his radical style when he was in charge of the company, Fred Lam basically never gave interviews to the media and kept a low profile and mystery.
Fred Lam was born in Jinjiang, the "shoe capital of China", and was one of the earliest businessmen in China who realized the importance of brand. When Fred Lam first established VIP Bird, it made money entirely by OEM. At that time, it happened to catch up with the transfer of shoes in Taiwan Province Province and made a lot of money.
But there are more and more OEM companies, and the profits of VIP birds are getting less and less. Fred Lam came up with the idea of making his own brand: we have our own materials, production lines and techniques, and if others don't do it, we will do it ourselves.
I didn't expect this to get out of hand. Fred Lam once invited Andy Lau, Cecilia Cheung, Lin Chi-ling and other famous stars to speak for "The Noble Bird" and quickly became famous. After Beijing's successful bid for the Olympic Games, the sports craze struck, and Fred Lam also ushered in its own highlight moment. At that time, he controlled more than 5,000 stores. Relying on Fred Lam's crazy marketing, Guirenniao was among the top sports brands in China at that time.
Until 20 14, with the promotion of Fred Lam, Guirenniao was listed on A-share, becoming the first and only sports brand at that time. This year, the VIP bird set a revenue record of 3.2 billion yuan, and its market value exceeded 40 billion yuan at its peak.
This year, after the listing of VIP Bird, Fred Lam's net worth doubled, ranking 108 on the Hurun Report with a net worth of1900 million, along with Chen Tianqiao, private steel magnate Du Shuanghua and Fosun No.2 Liang Xinjun.
Who would have thought that seven years later, the richest man in the past became Lao Lai? Who would have thought that the noble birds who had trampled on Li Ning and Anta were not as good as their market value.