Suning will close the English company it created in London. As reported by Tuttosport, in fact, Suning Sports Group International Uk Limited, the holding company created in London in November 2018, will be closed shortly.
In recent days, the company (whose main shareholder is Zhang Jindong and whose director is his son Steven) has in fact filed the financial statements for the year ended November 30, 2020, in which it specifies that the next financial statements will not be filed because ” the director’s intention is to close the company as soon as possible ”, reads the document. For this reason, the document for the 2020 financial year “was prepared with different criteria than those of business continuity”.
The economic movements of the company, founded in November 2018 with a capital of 30 thousand pounds, were modest: between 2018 and 2019 it had in fact only costs for a total of 58,500 pounds, while between 2019 and 2020 the costs were equal to 141 thousand pounds, with a negative net worth of 168 thousand pounds as of November 30, 2020.
It was, however, above all a useful tool to be present in a central financial center like that of London.