After the long holiday, a financial news has attracted the attention of many home consumers: Simmons, a well-known American bedding company with more than 100 years of history, recently announced its application for bankruptcy protection and intends to sell it to a private equity company in Los Angeles. According to a recent report by the US "New York Times", this is the seventh time that Simmons filed for bankruptcy protection in the past 20 years and was sold to a private equity company for the seventh time. This incident has caused great concern to the outside world. Many media believe that it reflects that the US economy may fall into a second wave of recession and have reported this news. According to relevant reports, the United States is the most diligent country in the world to replace soft mattresses. The speed of replacing mattresses is faster than that of Chinese people changing phones. Some people attributed to the American bed is frequent and expensive. But the financial tsunami that has not happened in a hundred years has plunged the US economy. Americans are becoming more and more unintentional, and mattresses have become the most durable consumer goods. This led to the stagnation of sales of Simmons, which has a history of 100 years, and its performance has fallen sharply, and it has to seek bankruptcy protection. A number of media have also reported that the mattress index has become an important indicator for economists to observe the economic boom: when the economy is booming, people are happy, frequent things, soft mattresses are naturally sold well, and when the economy is depressed, things are not going well. The poor couples are sorrowful and their minds are not in bed. The sales of mattresses have naturally fallen. >>[Expert explanation] The bankruptcy protection and the bankruptcy painting must not be equal: Since the entry into the Nanjing market two years ago, the sales situation of Simmons in Nanjing is gradually improving. However, the sudden news has put a big question mark in the minds of many people: "After applying for bankruptcy protection, can Simmons mattresses be bought?" To this end, the reporter consulted relevant legal experts and financial experts. According to the information provided by Baidu Encyclopedia, bankruptcy protection means that regardless of whether the debtor has solvency or not, when the debtor voluntarily submits to the court or the creditor forcibly submits an application for bankruptcy reorganization to the court, the debtor must propose a bankruptcy reorganization plan, and the time limit and manner of debt repayment. And arrangements may be made to detract from the interests of certain creditors and shareholders. Related companies should invoke Chapter 11 of the Bankruptcy Law to “reorganize” their business and strive for further profit. The bankrupt company, the “debtor”, can still operate as usual. The management of the company continues to be responsible for the day-to-day business of the company. Its stocks and bonds continue to trade in the market, but all major business decisions must be approved by a bankruptcy court. A report must be submitted to the Securities and Exchange Commission. Lawyer Jiang Zhimin of Nanjing Junyuan Law Firm said in an interview that bankruptcy protection mainly applies to American law. In his view, bankruptcy protection is similar to the concepts of “reorganization” and “reorganization” in Chinese law. “That is to say, a company applying for bankruptcy protection does not mean bankruptcy. As long as the company does not formally enter the bankruptcy process, it cannot be judged casually.” Zhu Xin, a lawyer at Shengdian Law Firm, also pointed out that enterprises applying for bankruptcy protection Its production and brand may not be affected. In addition, "If Simmons has a distributor in China, and the dealer is a legal person with independent legal personality, the consumer buys its product, and the opposite party to the sales contract is its distributor in China. According to the Consumer Protection Law, Regarding the quality problems of products and after-sales service, consumers can directly ask dealers to take responsibility. For the same problem, Zhang Weidong, director of Jiangsu Riyuexing Accounting Firm, believes that filing for bankruptcy protection is a financial rectification. He said: "Application for bankruptcy protection is usually because the debt is difficult to pay off, and a means of protection is taken to avoid creditors robbing the assets. As long as there is no formal bankruptcy, it will not affect the production and sales of the products." >>[Reporter's Survey] Asian Market The hot Nanjing dealers are very optimistic: Simmons headquarters has become the focus of the topic for applying for bankruptcy protection. Yu Weijun, the chairman of Simmons Nanjing and Nanjing Haoxian Household Products Co., Ltd., is not in a hurry. He said: "We used to publicize that Simmons is the world's largest mattress manufacturer. Many people don't believe it. Now, after such multimedia reports, everyone knows that Simmons is a century-old company, once brilliant - car king Henry Ford The famous inventor Edison and playwright Shaw have once endorsed it. The first person in China who slept on Simmons mattress is Empress Dowager Cixi." Yu Weijun said that this is very helpful for enhancing the brand awareness of Simmons. When talking about the reasons why Simmons filed for bankruptcy protection, Yu Weijun said that this was only a financial rectification method for the company's top management. It changed only to shareholders, and had no influence on Simmons' production. “Ximengsi has been very popular in the Asian market, and Japan and Singapore have sold very well. In Hong Kong and the Mainland of China, sales have also increased. Just in Hong Kong, China, it sold more than 17 million yuan in October this year.” Yu Weijun told reporters It is revealed that Simmons' Asian management rights are currently in the hands of the Japanese Wang's consortium. Simmons headquarters has invested RMB 12 billion to buy out Asian management rights, but the Wang consortium has not sold them. “It can be seen how good the market situation in Asia is.” According to Yu Weijun’s introduction, Xi’an has also invited Ximeng to participate in the luxury exhibition held in Nanjing Zhongshan Golf. “We are worried that the brands participating in this exhibition are not high-end, so we did not participate in this exhibition.” It is understood that the two private equity companies that will take over Simmons are also the largest bedding manufacturer in North America, “National Bedding Co., Ltd.” Boss, the company owns famous bedding brands such as Serta. The takeover intends to create Simmons and Shuda into two independent brands with different positioning. After the acquisition, Simmons will remain the original logo, brand, production line and management team.

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