The fall of the big seller? Global Easy Shopping files for bankruptcy reorganization

According to the data updated on June 9th on the National Enterprise Bankruptcy and Reorganization Case Information Network , Shenzhen Global Easy Buy E-Commerce Co., Ltd. was declared bankrupt on June 4, 2021. The applicant was the Shenzhen Nanshan Branch of the Industrial and Commercial Bank of China, Ltd., and the case number was (2021) Guangdong 03 Bankruptcy Application No. 380.

Global Easy Shopping has a debt of 3.379 billion yuan

Cross-Border Link's sale of its "cash cow" Paton could not save Global Easy Shopping from its consecutive losses. Global Easy Shopping's current total liabilities have reached 3.379 billion yuan.

Relevant data shows that Global Easy Shopping's sales (consolidated basis) increased from 198 million yuan in 2012 to 1.416 billion yuan in 2014, reaching 7.163 billion yuan in 2016, exceeding 10 billion yuan in 2017, reaching 12.407 billion yuan in 2018, revenue of 8.506 billion yuan in 2019, and revenue dropped to 5.629 billion yuan in 2020. The company's revenue grew rapidly from 2014 to 2018, but due to the sharp decline in revenue in the past two years and the provision for impairment of inventory, the company suffered large losses.

Initially, Global Easy Shopping's losses were caused by miscalculating sales during the peak season, which resulted in overstocking. In addition, the huge operating pressure led to the loss of users and business, and the suspension of third-party accounts . Global Easy Shopping seemed to be standing on the edge of a cliff .

Seller analysis: Global Easy Shopping may have escaped

Some sellers said that Global Easy Shopping now seems to be just an abandoned shell. As early as the end of April, it had divested ZAFUL, a high-quality brand with 40 million users; then its employees moved out of Global Easy Shopping's office one after another; on June 4, its Cross-border Communication had completed the industrial and commercial changes, changing the company's legal person from Xu Jiadong to Li Yong. This series of actions cannot help but make people speculate that Global Easy Shopping is making plans for the future.

Some people speculate that Global Easy Shopping wants to evade debts and responsibilities through legal bankruptcy, but if so, the ones who will really suffer are the suppliers and grassroots employees, who will have to bear the losses and have no way to seek redress.

Many suppliers also said that they have been delaying our payment for more than half a year, using various excuses. Are there any brothers in distress who can help us defend our rights?

Global Easy Shopping responded to this, saying that the company has not yet received the legal documents from the Shenzhen Intermediate People's Court. The company is currently actively communicating and negotiating with the Nanshan Branch of the Industrial and Commercial Bank of China, and is working hard to raise funds in order to reach a settlement with the Industrial and Commercial Bank of China.

Cross-border e-commerce sales

Global Shopping

Bankruptcy