“The company’s debt situation has stabilized”
Zhang Jindong, owner of the Holdings group for the owners of Inter Suning, confirmed that the Chinese company’s debt situation is stabilizing.
Writing in his annual letter to the company’s investors, the founder of Suning explained that the company has struggled with the debt and liquidity issues it has been facing, especially since the start of the pandemic.
Suning has been struggling with debt problems for some time, which is part of the reason the company has not been able to invest in the Nerazzurri who have faced their own financial problems.
Debt and cash flow issues at both Inter and Suning only intensified during the pandemic, forcing the Nerazzurri to make significant player sales over the summer in order to maintain security. financial.
The continued viability of Suning’s Nerazzurri ownership has been called into question due to the company’s financial problems, as well as Chinese government regulations against investment in the sport.
It remains to be seen what the effects of this resumption of Chinese company fortunes will be for Inter, but for now at least, there could be one less factor that would constrain the club financially as the situation of the Suning’s debt is stabilizing.
Zhang writes, “With the support of the Chinese government and through our continued efforts, our group’s debt problem has gradually stabilized and Tesco’s operations are also recovering in an orderly fashion. “