"Ximengsi" travels across the ocean to find buyers with a price of US$1.

Perhaps it is lack of interest in foreign countries, the United States SimmonsBeddingCompany (SimmonsBeddingCompany) actually went to distant China to find buyers, and 100% of the stock price is actually a symbolic dollar. But slow, you can't be too happy to get a dollar. As the seventh application for bankruptcy protection, Simmons has a debt of up to $1 billion! Intentional buyers can think clearly because they have to bear all their debts. Duan Li, deputy director of the Guangzhou Equity Exchange Office, told reporters on December 21 that Simmons’ assets are being promoted at the same time as the United States and China, and are currently in contact with prospective buyers because China is interested in the company’s intention to develop overseas business. 1 US dollar reserve price China sells "Ximengsi's transfer price is 1 US dollar, including its brand, sales channels, machinery and equipment and patented technology." Duan Li introduced the Simmons assets of the listing, including brands, sales channels, machinery and equipment, Patented technologies, etc., are intended to be packaged and sold. For the transfer price of 1 US dollar, Duan Li said that because Simmons has huge debts, its assets and liabilities are negative after the net assets are negative, so the reserve price of 1 US dollar is determined. Founded in 1870, Simmons is one of the world's largest producers, manufacturers and distributors of bedding. Headquartered in Atlanta, USA, its more than 20 manufacturing facilities are located in the United States, Canada and Puerto Rico, with approximately 2,300 employees nationwide. Simmons has more than 2,100 dealers and more than 13,500 sales outlets in the US, including furniture stores, bedding stores, department stores, furniture rentals, and large wholesalers. At present, Simmons's liabilities are about $1 billion, including approximately 537 million guaranteed corporate bonds, $222 million unsecured priority orders (including interest), and $267 million in preferential discounts. Notes, $12.5 million in unsecured industrial income bonds. “Ximengsi is also doing financial consolidation. If the consolidation plan is successful, it will reduce the debt of US$572 million.” Duan Li introduced that Simmons proposed a financial consolidation plan while applying for bankruptcy, which is expected to help Simmons reduce $572 million in debt. It is understood that the project is a cooperation project between the Guangzhou Equity Exchange and the famous American law firm STEVENS & LEE. STEVENS&LEE selected projects with more M&A value from local projects that have applied for bankruptcy protection to China for promotion. The Guangzhou Equity Exchange has selected and listed them to find intent buyers and provide convenience and platform for Chinese companies to purchase overseas. Seven-year filing for bankruptcy protection is no longer the first time that Simmons filed for bankruptcy protection. According to public information, from 1991 to now, in less than 20 years, Simmons has filed for bankruptcy protection seven times, and the first six times were sold to private equity firms in the United States. After several hand-downs, Simmons’s debt increased dramatically from $16.4 million in 1991 to $1 billion. It is said that every time Simmons filed for bankruptcy protection and changed hands, the market value will increase; but the new buyers will pay more to the sellers through more debts, so as to capitalize the company and maintain operations. After earning enough profits from Simmons, buyers often reinvented Simmons through bankruptcy restructuring. According to Duan Li, Simmons announced his application for bankruptcy on September 25, 2009, and was accepted by the court in early November. The listing announcement stated that the reason why Simmons filed for bankruptcy was mainly affected by the overall sluggish market in 2008, the market demand decreased, and the cost of raw materials continued to increase. For the intended transferee, Simmons did not have too many requests. Only the natural person or enterprise legal person that the transferee needs to have good goodwill, credit status and ability to pay, if the transferee is a natural person, it should have full capacity for civil conduct. Huge debts make buyers interested in fear According to Duan Li, they have already approached Chinese buyers who are aiming to develop overseas business. At the same time, Simmons's sale of assets to foreign private equity funds is also negotiating and negotiating, but the behavior does not conflict with China's listing transfer. In the end, it will depend on the quotation and negotiation of the parties, and will be based on the bidding situation. Determine the final price. In addition to the transfer price, the purchaser is required to assume the full liability of Simmons after the transfer. According to Simmons' self-estimation, its goodwill and trademark value is about $547.6 million. Since 2004, its average annual net sales have been above $850 million. In addition to the loss of the company's profitability due to market factors in 2008, Simmons maintained a record of continuous profitability. Simmons has always been considered synonymous with advanced mattresses. Currently, 34 specialty stores are opened in 24 cities including Shanghai, Beijing, Fuzhou, Xiamen, Guangzhou, Shenzhen and Tianjin. "This project will be closed by the end of January. If there is no overall transfer, the auction will be carried out at that time." Duan Li introduced, "Ximengsi's brand and channel have great appeal to Chinese merchants, but its heavy Debt burdens have discouraged intent buyers. "We can wait and see if the one-dollar transfer price can make Ximensi with a debt of $1 billion "turn over." Knowledge Link Simmons was founded in 1870. Simmons is currently the world's most famous top mattress manufacturer, and its products are sold all over the world. In Asia, it has received much attention as a supplier to five-star hotels such as Shangri-La, Peninsula, and Mandarin Oriental. The mattress has the characteristics of classic design, noble and gorgeous appearance, fine manufacturing process and health and environmental protection. It leads the development trend of the world mattress in both design and function. Simmons is actually a brand, a name, but not a mattress, just because it is so famous that we call the mattress Simmons, but forget its original meaning.


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