Wuke Technology: US agent defaults on payment, causing cash flow to break, will file for bankruptcy in court

Wuke Technology: US agent defaults on payment, causing cash flow to break, will file for bankruptcy in court

Shenzhen Wuke Technology Co., Ltd. announced the suspension of production and closure on July 26, 2024 after many efforts failed due to the impact of the international market, resulting in unsalable goods and shortage of funds. It will apply for bankruptcy in accordance with the law and set up a liquidation team to handle subsequent matters.

 

On July 30, an industry insider revealed to the two supremes that Shenzhen Wuke Technology Co., Ltd. issued the "Notice on the Suspension of Production and Closure of the Company". The notice shows that Shenzhen Wuke Technology Co., Ltd. announced the suspension of production and closure after experiencing a series of financial difficulties, and will enter bankruptcy procedures.

 

The following is the detailed content of the transmission:

 

Notice on the Suspension of Production and Closure of the Company

 

To all employees and partners:

 

Due to the unsalable goods of downstream customers due to the impact of the international market, a large amount of payment for goods has not been recovered, resulting in a serious shortage of funds for the company. The company has been carrying heavy burdens since the beginning of this year, seeking help and chasing money from many parties, but with little effect. In the end, the brand owner and the US agent simply refused to pay, which directly led to the company's cash flow being broken. Due to financial difficulties, the company can no longer continue to operate normally. After careful consideration by the company's management, it has decided to stop production and close down from July 27, 2024. It is difficult and regretful to inform everyone that the company has declared bankruptcy.

 

Thank you to all partners for your support over the years and thank you to all employees for your hard work day and night.

 

Next, the company will apply for bankruptcy to the court and set up a liquidation team to liquidate assets. And in accordance with relevant laws and regulations, cooperate in handling the aftermath and negotiate to resolve all matters.

 

This is hereby announced.

 

Shenzhen Wuke Technology Co., Ltd.

July 26, 2024

According to Tianyancha, Shenzhen Wuke Technology Co., Ltd. was established in 2014 and is located in Shenzhen City, Guangdong Province. After inquiry, Shenzhen Wuke Technology Co., Ltd. has obtained the tobacco monopoly license required to engage in e-cigarette production and operation business.