The disappearance of traditional department stores is accelerating. On June 12, Ali Judicial Auction Website showed that Beijing Tianqiao Department Store will be auctioned on June 15 for disputes over loan contracts, with an estimated price of 560 million yuan and an initial bid price of 448 million yuan. Up to now, the number of spectators has reached 2700, and no one has signed up for bidding. As the first joint-stock company in China, Tianqiao Department Store has been in operation for 66 years. It is called the ashes retail representative in the industry. Now, why is such an old department store sold by the court?
Tourist groups support the catering industry because of the scarcity of passengers
On June 12, the reporter came to the Tianqiao Department Store located in the South Second Ring of Beijing, which is close to Tiantan Park, only 3.7 kilometers away from Tiananmen Gate.
The overpass department store has four floors. The announcement in the shopping mall shows that only one floor and the underground floor are open to the outside world at present, and the office area is above the second floor. Many salesmen in the shopping mall told reporters that only five floors are office areas, and other floors have been outsourced to hotels and health bases of traditional Chinese medicine. Reporter visits found that the stairs outside and inside the corner of the shopping mall have hotel signs.
At present, the main sales floor is middle-aged and elderly womens clothing, in addition to scattered jewelry bags, tobacco and alcohol, mobile phone clocks and other counters, mostly private contracted stalls, arranged in disorder.
Mr. Chen (pseudonym) who manages household bedding told reporters that the booth was contracted out in 2008 through layers of subcontracting, not directly signed with the market. This years contract will expire on August 31. In previous years, someone will come three months in advance to ask whether to renew the lease. So far this year, there has been no movement.
Mr. Chen was not surprised by the news that the mall was going to be auctioned. He mentioned that when he first entered the overpass shopping mall in 2008, his monthly turnover could reach 50,000 yuan or 60,000 yuan. Today, unlike in the past, there are now seven or eight customers a day, mostly tourists and elderly people who walk around, and few of them actually buy, reluctantly relying on repeat customers to support them.
After visiting the first floor, the reporter prepared to enter the underground floor, but found that the elevator had already stopped operation, covered with stains, showing a state of disrepair, no one cleaning. For safety reasons, the reporter asked the salesman how to get into the underground floor, the other side said just go down.
The underground floor of Tianqiao Mall is dimly lit. Several restaurants are crowded on both sides of the narrow corridor. The restaurant mainly sells fried vegetables, roast duck and chafing dishes. With individual stalls selling preserved fruits and fruits, it is difficult to connect this place with the shopping mall.
Similar to Mr. Chen, who makes bedding on the first floor, Zhou, who runs a fruit store, told reporters that his stall was subcontracted by the owner and then contracted by himself. At present, the contract is about to expire. He is uncertain about the future: Now it has been renewed for half a year. In the past, it was signed from one year. The owner said to do it first, and then to say.
The reporter noticed that compared with the first floor of the shopping mall, the crowds on the remote underground floor are more scarce, and there is no popularity in the restaurant near the peak of the dining season. Mr. Chen said that the monthly profit of the fruit store is barely maintained at 3,000 or 4,000 at present. My boss is a caterer, and he will bring tour groups to the restaurant to eat here. This is the main source of tourists now, and my business mainly depends on these tourists. Tour group, or who else is here?
Tianqiao Department Store was founded in 1953. Its original name is the 4th Wholesale Department of Beijing Company, China Department Store Company. Media reports show that in 1993, as one of the first listed companies in Beijing, Tianqiao Department Store was listed on the Shanghai Stock Exchange. After the transfer of shares, Peking University Bluebird became the largest shareholder of the Overpass Department Store. In October 2000, Beijing Tianqiao Department Store Co., Ltd. and Beijing Beida Bluebird Co., Ltd. jointly funded the establishment of Beijing Tianqiao Department Store Co., Ltd.
Enterprise survey shows that at present, Beijing Tianqiao Department Store Co., Ltd. is 100% owned by Shenyang Beida Bluebird Industry Investment Co., Ltd., while the latter is 100% owned by Beijing Shengshi Xintian Film and Television Advertising Co., Ltd.
Many transformations failed
In recent years, in the tide of traditional department stores closing, the survival situation of overpass department stores is difficult. Some insiders pointed out to reporters that the decline of overpass department stores is closely related to its poor management.
As early as 2008, Tianqiao Department Store planned to close its stores, actively signed with a number of travel agencies to establish cooperative intentions, hoping that with the help of tourism trends, it could be transformed into a shopping mall with national characteristics, but with little success. In 2010, the shopping mall was reopened and renovated. It invested 5 million yuan to build a fashion shopping mall for young people in Nancheng, Beijing, but still failed.
This is closely related to the rise of e-commerce around 2013. According to the statistics of the closure of major retail enterprises in the first half of 2014 published by Lianshang, 158 major retail enterprises (excluding household and electrical appliances) closed their stores in China in the first half of 2014, more than three times more than in previous years; by 2015, the trend of department store closure swept 17 provinces, municipalities, autonomous regions, 14 brands and 63 Department stores.
It is understood that the overpass department store was auctioned because of a loan dispute between Guangda Xinglong Trust and Peking University Hi-Tech Company in 2011. As a guarantor of mortgage, the overpass department store assumed the responsibility of mortgage guarantee, which was auctioned by the court.
According to China Judicial Documents Network, on October 9, 2011, Everbright Xinglong Trust signed a Trust Fund Loan Contract with Peking University Hi-Tech Company. The contract stipulates that the Everbright Xinglong Trust will grant 280 million yuan of trust loans to Peking University Hi-Tech Company with a loan interest rate of 11.808% per year and a loan term of one year. On the same day, Beijing Tianqiao Department Store and Guangda Xinglong Trust signed the Trust Fund Mortgage Contract, which stipulates that Beijing Tianqiao Department Store Co., Ltd. will provide mortgage guarantee for the above loan contract under its name, Tianqiao Department Store and land use right. After the loan was granted by Guangda Xinglong Trust according to the contract, Peking University Hi-Tech Company did not repay the principal and overdue interest on schedule, which led to the loan dispute.
After seven years of entanglement, in 2018, the court ruled that Peking University Hi-Tech Company should repay the loan principal of the Guangda Xinglong Trust of 280 million yuan, as well as the overdue interest of 344,640 yuan as of July 14, 2014, and the overdue interest from July 15, 2014 to the actual date of payment. Beijing Tianqiao Department Store Co., Ltd. assumes the responsibility of mortgage guarantee, and auction Tianqiao Department Store is used to pay debts. After the auction, Beijing Tianqiao Department Store Co., Ltd. can claim compensation from Peking University High Tech Company.
It is worth noting that in recent years, the overpass department store has been involved in a number of contract disputes.
As early as 2016, Tianqiao Department Store was involved in equity and debt disputes with industrial real estate companies. According to the public data, in 2010, the real estate industry acquired 8.56 million yuan of creditors rights of Bluebird Sihua to the overpass Department store. However, Tianqiao Company failed to fulfill its contract to repay the real estate, and then settled the debt with the rental agreement.
On May 20 this year, the real estate industry announced that the company had taken over the overpass department store and incorporated it into the office. However, the company staff later told the media that the company took over formally after August 31 this year, the future may be the current overpass department store transformation, but the current plan has not yet been determined. In fact, two years ago, Tianqiao Department Store signed a lease with another company, Beijing Hongxiang Tiantong Commerce and Trade Co., Ltd. for a period of 10 years. This brings a series of disputes about repayment and rental contract to real estate companies. In the end, the court decided that Beijing Tianqiao Department Store should pay 9.41 million yuan for real estate, and that Beijing Tianqiao Department Store should be included in the list of restricted consumers. However, as far as the current situation of overpass shopping mall and the relationship between overpass shopping mall and industrial real estate are concerned, reporters have tried to interview the staff of overpass Department stores, but no response has been received up to the time of submission. For the progress of the auction of overpass shopping mall, our reporter will continue to pay attention to it. Source: Responsible Editor of China Times: Liu Song_NBJ9949
On May 20 this year, the real estate industry announced that the company had taken over the overpass department store and incorporated it into the office. However, the company staff later told the media that the company took over formally after August 31 this year, the future may be the current overpass department store transformation, but the current plan has not yet been determined.
In fact, two years ago, Tianqiao Department Store signed a lease with another company, Beijing Hongxiang Tiantong Commerce and Trade Co., Ltd. for a period of 10 years. This brings a series of disputes about repayment and rental contract to real estate companies. In the end, the court decided that Beijing Tianqiao Department Store should pay 9.41 million yuan for real estate, and that Beijing Tianqiao Department Store should be included in the list of restricted consumers.
However, as far as the current situation of overpass shopping mall and the relationship between overpass shopping mall and industrial real estate are concerned, reporters have tried to interview the staff of overpass Department stores, but no response has been received up to the time of submission. For the progress of the auction of overpass shopping mall, our reporter will continue to pay attention to it.