Chapter 49: Collapse (Fourth Update)
Yikang Company headquarters building.
Downstairs, a continuous stream of citizens who had come to demonstrate kept throwing rotten eggs.
Media reporters also gathered around, dragging everyone who came out of the building into an interview.
Even many internet celebrities came over to ride the wave of attention, as Yikang Company was now truly a hot topic, with related news views skyrocketing.
Above the building, Yu Duanchong seemed to have aged twenty years overnight.
Watching the noisy crowd of debt collectors, his eyes were filled with immense pain and desolation.
"Mr. Yu, when will you settle the final payment for the intelligent feeding system you owe our company? If you don't pay, I'll just stay here and not leave."
"Yu, we've been old friends for many years, you can't make this difficult for me, that's the bank's money, if I can't recover it, I can't explain it away."
"Mr. Yu, I've already returned all 80,000 pigs you delivered last week. Give me back the money I paid for the pigs, and compensate for my losses too."
The creditors surrounded Yu Duanchong, their spittle flying so much that Yu Duanchong could hardly catch his breath.
A few days ago, he was still gloriously the chairman of Xiping Province's largest livestock enterprise.
Now, Yikang Company had fallen into a dire situation of impending bankruptcy and he had become like a street rat that everybody wanted to hit.
Yu Duanchong finally seized an opportunity and scurried out of the encirclement in a disheveled state.
At that moment, his suit was torn, his hair messy, and his face seemed to have been punched several times, looking very pitiful.
"Everybody, please let me say a few words."
Seeing another group of creditors about to rush up and beat him, Yu Duanchong kept waving his hands and shouting.
"What nonsense, pay back the money!"
"Right, pay back the money now."
"Pay back the money!"
"Pay back the money!"
"Pay back the money!"
The creditors were furiously indignant, everyone knew Yikang was tottering, liable to collapse at any moment and then they might not retrieve their money, accepting the loss for nothing.
"I know everyone wants their money back, and something like the swine fever is beyond my control, but please believe me, I have worked hard to build and develop Yikang until now, I definitely won't let it fall, even if I have to sell everything, I will pay back everyone's debts.
I have already sent my wife and son to handle the properties and cars under our name, as soon as I gather the money I will immediately pay everyone back. Yikang has operated for many years, we still have quite a few assets, definitely enough to cover a huge deficit.
I also ask for one more chance, Yikang will apply for debt restructuring, doing our utmost to weather this crisis and be accountable to the public and society."
Yu Duanchong gasped for air, bowing deeply with utter sincerity as he finally broached the topic of debt restructuring.
Planning to renegotiate with the creditors about the timing, amount, or method of debt repayment.
Perhaps knowing that seizing Yu Duanchong now was useless, and that Yu Duanchong still possessed quite a few properties and shops under his name, these real estates, if converted into money, could indeed relieve a lot of Yikang's current distress.
"Are you serious, will you guarantee the repayment?"
"Truly, I founded Yikang with my own hands, I can't just watch it fall, please give me a little more time."
"You must pay me back first when you return the money."
"Definitely, I won't miss a single cent for everyone here."
Through repeated bowing and apologies, it took a long time for Yu Duanchong to eventually persuade all the creditors to leave.
And on Yu Duanchong's face, there was no sign of joy; only endless exhaustion.
After a long while, Yu Shichang managed to gather his energy and took a car back home.
"Dad!"
"Yu."
Yu Shichang and his wife, Wang Huilian, looked at the disheveled Yu Duanchong and already guessed what had happened at the company that day.
Bang!
Yu Duanchong slammed his hand on the table, and thinking about the recent events at Yikang Company, his face was filled with anger.
"Mu Hua Company, if I ever catch a chance, I'll make your life miserable."
With his intelligence, how could he not suspect there was a mastermind behind this?
Combining this with those he had recently offended, he immediately targeted Mu Hua Company.
"Dad, did our company end up like this because of what Mu Hua Company did?"
Yu Shichang was both shocked and furious, clenching his teeth so hard they squeaked.
"That Su guy is no good, Runming must have been discovered by him when he went to poison, and he's using the same tactics to retaliate against us." Continue your journey at empire
Wang Huilian had also figured everything out, and her expression was dark and terrible.
"If we had just been a bit more ruthless back then..."
Yu Duanchong felt helpless, now even if he understood everything, so what?
Struggling to even protect himself, let alone deal with Mu Hua Company.
Just as the family was engulfed in anger, a phone call came in.
When Yu Duanchong saw the caller ID, his face immediately changed.
After picking up the smartphone and talking for less than two minutes, Yu Duanchong's face turned black as the bottom of a pot, and he slumped down on the couch.
"Dad, what's wrong?"
Yu Shichang didn't understand what could have changed so drastically just from receiving a phone call.
"The government is getting involved, they're coming to investigate Yikang and hold us accountable."
Yu Duanchong's expression was grim, he had connections in the government who had given him insider information.
"What?"
The news made Yu Shichang's body tremble, feeling like the sky had collapsed.
"Huili, all those preparations you made, are they ready?"
Yu Duanchong looked at his wife, having anticipated that this day might come, he had started to prepare an escape route early.
"Everything is ready, I've transferred whatever assets I could to the United States."
Wang Huilian spoke, as the financial director of Yikang Company, she was well versed in the practice of capital transfer.
"Then let's stick to the plan and leave separately, Shichang, let's meet in the United States."
Yu Duanchong stood up, although he was reluctant to leave his family business, he was more averse to ending up behind bars.
The crimes he had committed were too great, although due to time constraints, only a small part of the diseased pigs were sold, but now, given the huge uproar, his status as a businessman wouldn't help him anymore, so escaping abroad was the only option.
"What about your brother and sister-in-law?"
Wang Huilian asked, as the crimes weren't limited to just a few of them, the entire Yu family was involved.
"We have to leave some people behind to draw their fire, that way we can escape more safely from Hua Country."
Yu Duanchong did not hesitate at all, readily using the rest of the Yu family as stepping stones, sacrificing them for his own wellbeing.
The three of them made a few disguises, then quickly left the house, each taking separate ways to flee.
Not long after, Yikang Company faced its true downfall.
The company's only remaining cash flow was embezzled, and with the core leaders fleeing, this large breeding enterprise collapsed thunderously, teetering on the brink of bankruptcy.
The remaining Yu family members who didn't escape in time were arrested one by one, and at the time of their arrest, they still didn't know that their trusted elder brother and sister-in-law had betrayed them.