Compared with the depression of furniture stores, the competition in the furniture industry is becoming more and more intense. “House prices have risen tenfold in ten years. The same set of plate furniture was a few thousand dollars a decade ago. It’s still a few thousand dollars, or even cheaper. Chen Hao, executive director of Hong Kong Dynasty Furniture, told the Yangcheng Evening News reporter. The entire furniture industry is experiencing an unprecedented reshuffle, and a large number of companies will be eliminated this year.
Recently, some people reported to the Yangcheng Evening News reporter that the factory of the Dynasty furniture in the Luogang Yonghe Economic Development Zone in Guangzhou had to close down and there was arrears of wages. The reporter rushed to the scene to understand the situation and found that this is a company called Sini Cai Industrial, a branch of the Dynasty furniture. The security guard at the door of the company said that it used to be the sofa production line of the Dynasty furniture, but it has now moved away. “It’s been moved a few months ago. It’s only recently moved, and new projects are going to take place some time. The security guard said that he did not hear about the arrears of wages.
Chen Hao said that he did not expect the relocation of the Sinice factory, which would cause such a storm. “The move of the sofa production line to the Zengcheng plant is based on the needs of the Group’s strategic planning adjustment and resource integration, which can reduce logistics costs and improve management efficiency. Eighty-five percent of the workers have moved over. Others who are unwilling to come, we are actively negotiating and solving with the participation of the government, we must compensate according to the law, and there is absolutely no situation of wage arrears.
A Luogang Yonghe Development Zone staff revealed to reporters that the development zone has strict checks on the imported enterprises, and the specifications, output value and brand of the settled enterprises are highly competitive. “I understand that there is no deduction or owing wages to the furniture of the Dynasty.”
The threshold of the furniture industry is very low. In recent years, a large number of furniture enterprises have emerged. There are tens of thousands of places in the southwestern part of Jiangxi alone. Some insiders pointed out that because some furniture companies do not pay attention to brand and quality, relying on cheap strategies to survive, coupled with the sluggish demand in the whole market, the furniture industry is currently experiencing an unprecedented difficult period. In this environment, many furniture companies have closed down last year, and a large number of enterprises will be eliminated this year.
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