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🇹🇼 Taiwan /Economy & Trade

Snack E-commerce Owner Closes Shop, Cites Unbearable Pressure and Debt

From Liberty Times · (1h ago) Chinese Critical tone

Translated from Chinese, summarized and contextualized by DistantNews.

TLDR

  • A well-known snack e-commerce business owner, known as 'Pi Laoban', has announced the closure of his nine-year online business.
  • He cited immense pressure and the inability to continue operating as reasons for the closure.
  • Pi Laoban is currently addressing his debts, which are substantial, and has apologized to vendors and customers, requesting time to manage the situation.

The online snack empire built by 'Pi Laoban' has crumbled, marking the end of a nine-year venture. In a tearful announcement, the owner revealed the immense pressure that led to the difficult decision to cease operations. He expressed deep regret and apologized for the situation, particularly concerning outstanding debts to vendors and past financial obligations.

I really can't hold on any longer.

— Pi LaobanStating the reason for closing his business.

Pi Laoban acknowledged the significant financial challenges, including bounced checks and a large sum of debt, rumored to be in the hundreds of millions of NT dollars, possibly reaching up to NT$200 million. He attributed these issues to rapid business expansion and the prevailing economic climate.

I am truly sorry.

— Pi LaobanApologizing for the situation regarding debts and past accounts.

While the business closure is a somber event, Pi Laoban has pledged to address his financial responsibilities. He is actively working on repaying debts and has asked for understanding and time from his creditors and the public. The situation highlights the precariousness of online businesses, especially when rapid growth is not matched by robust financial management.

Please give me some time.

— Pi LaobanRequesting time to handle his financial obligations.
DistantNews Editorial

Originally published by Liberty Times in Chinese. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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