Fords filed for bankruptcy and liquidation

Date of issue:


Just after New Year's Day in 2017, at 8:44 pm on January 4, Zhongshan Fords Lighting Co., Ltd.'s legal representative Wang Gongjie announced in his personal WeChat circle of friends that Fords suffered serious losses due to various reasons and was insolvent. Bankruptcy and liquidation! And said that they will not run away and lose contact. And the wages of the workers will be paid to the income from the sale of all company assets.

As soon as this news came out, many people in the industry expressed their regrets, but at the same time, they also expressed appreciation for Wang Gongjie's responsible attitude in the face of the bankruptcy of the company. A lighting industry person in the same industrial park as Fords revealed that the size of Fords ’s factory has been shrinking since last year, but it is still surprising that the news of bankruptcy filing has come so quickly. It is understood that that night, when boss Wang Gongjie sent a circle of friends to declare bankruptcy, the workers at the Fords plant had stopped working.

Fords Lighting signed a famous Hong Kong movie star Liu Qingyun in 2013 to make a brand endorsement for it and succeeded in creating momentum. Later, he also did advertising and marketing on TV. The scenery of the day, how come the current bankruptcy comes so fast. According to a supplier who once worked with Fords, by the time the futures have been delayed for half a year, the failure to keep up with the capital chain may be one of the reasons for its rapid bankruptcy.

Comments: As the LED lighting industry becomes more and more mature, more and more disadvantages show up: high degree of product homogeneity, fierce price wars, market downturn, low profits, rising labor and raw material prices, etc., especially in 2016 Since the beginning of the year, the price of raw materials has skyrocketed, the state has conducted environmental protection inspections, and implemented a system of extended producer responsibility, which has made some weaker LED lighting companies face the crisis of being eliminated.

In addition, many companies are crazy about marketing, relying too much on the advertising effect, neglecting product innovation, often failing to succeed first. In the future, LED companies can only survive in the fiercely competitive market and obtain development opportunities by combining marketing promotion and product upgrading to create comprehensive competitiveness that meets their brand positioning.


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