Recently, American large furniture company Furniture Brands International, Inc. (hereinafter referred to as FBI) ​​filed a bankruptcy application. At least 15 Dongguan exporters were severely affected by the incident and suffered heavy losses. Before the FBI filed for bankruptcy, the FBI filed for bankruptcy protection in the US Bankruptcy Court in Delaware under Chapter 11 of the US Bankruptcy Law. FBI is a furniture company with a history of nearly 100 years in the United States. It integrates design, procurement, manufacturing and sales. It sells different types of furniture through various brands and employs more than 9,100 people. According to the IBIS database, the Group's total sales in 2012 was around US$1.072 billion, with a market share of approximately 3%. According to industry insiders, the previous subprime mortgage crisis brought great cleansing to the US furniture industry. About 30% of companies filed for bankruptcy protection or closed down. Many companies closed stores and were in a state of loss. The two insurance companies involved in the case of about 2 million US dollars FBI Group has many well-known brands, such as Thomasville, Lane, Broyhill. Dongguan has a large number of furniture companies engaged in export, how will these enterprises be affected? Chen Jian, head of the comprehensive department of China Export Xinbao Dongguan Office, said that according to the information of China Export Insurance, the FBI Group's annual purchases in Dongguan exceeded US$100 million, and at least 15 Dongguan exporters were severely affected by the incident. A major loss. In this case, two insured companies in Dongguan were affected, involving about $2 million. "Because of the confidentiality agreement, the names of the two companies are inconvenient to disclose. But it is certain that the two companies are in Houjie and one is in Gaochun," he said in an interview. A staff member of the Dongguan Furniture Industry Association revealed that some Taiwan-funded furniture factories have been particularly affected. Among them, Taisheng Furniture, a well-known furniture company, may be the most affected foundry in Dongguan. Voice China Exports Xinbao Dongguan Office Head of Comprehensive Department Chen Jian: The US furniture industry is still difficult to recover in the short term. With the gradual recovery of the real estate market and the US economy, in 2013, the North American furniture industry as a whole has developed upward momentum, and the demand for purchase orders has rebounded significantly. . However, in the furniture market that has been in the downturn for five years, many large furniture companies in the United States have been deteriorating their operations and financial status, and their debts are high. It is still difficult to reverse the business and financial problems in the short term. Recently, the bankruptcy crisis exposed by the FBI Group is quite representative. Dongguan furniture exporters should take it as a guide. After fully assessing the customer's operating risks, they should carefully take orders. If necessary, they can use credit insurance and other policy tools to investigate customer background and avoidance. Risk, to avoid the dilemma of losing money due to blind orders.
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