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Photo News: Wenzhou Shoe Factory Closes, Gets Raided

A Wenzhou shoe factory let go all of its employees and was then stripped of its inventory and infrastructure. Even the wood pallets were pilfered. From Hangzhou.com.cn via forum.dwnews.com.

According to the Dushi Kuaibao (都市快报): A local official explained the reason for the closing of the shoe factory was the owner’s failed real estate investment, it was “not because of the shoe business itself.”

• Posted by Japhet Weeks
• November 28, 2008 10:18 PM
• Category: Economy, Main
• Tags: factories, financial crisis 2008-2009, wenzhou

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