In recent days, the case of bankruptcy liquidation of World View Kitchen (Xiamen) Co., Ltd. has been formally accepted by the court, and it has entered the bankruptcy liquidation stage currently.

According to the official website of World View, the company is one of the few kitchen brand enterprises able to produce three core kitchen parts of solid wood, stoving varnish and film pressure in the country. Currently, it has over 600 employees, has the plants with the covered area nearly 50,000 m², and has the annual production value over RMB 800 million. Currently, World View has had 629 franchised outlets nationwide, and it has planned to have more than 1,000 franchised outlets nationwide in the next 2–3 years.

Since 2016, World View has been reported about the wage arrears and the involvement in the financial disputes for many times. On August 17, 2018, according to the bankruptcy notice released by National Enterprise Bankruptcy & Restructuring Case Information, Intermediate People's Court of Xiamen City, Fujian Province judged the acceptance of the case of bankruptcy and liquidation of World View.

Previously, bankruptcy and liquidation was also executed for one of the largest domestic furniture enterprises Chengfeng Furniture. It shows that the rational consumption has returned in China’s furniture market, that with the continuous improvement of the people’s living standard, China’s retail market has stepped on the trend of quality consumption and that the products only having the brand instead of the core competitiveness will be eliminated from the furniture market and even the retail market sooner or later.

(Source: JJgle.com)