Teikoku Databank announced on August 19 that four companies, including Good Believe, received a decision to start bankruptcy proceedings from the Osaka District Court on August 15.
Good Believe is a forwarding agency established in January 2004. As a 3PL (Third Party Logistics) operator that comprehensively undertakes all aspects of customer logistics, we have acquired food-related companies such as food supermarkets, discount stores, food trading companies, and food manufacturers nationwide, mainly in the western Japan area, and transported products. We have been entrusted with logistics-related operations such as storage, location management, picking work, and food processing.
The company has expanded its business by establishing more than 15 distribution centers in the Tohoku and Kyushu regions, and posted an annual revenue of approximately 10.526 billion yen (announced by the company) in the fiscal year ended December 2017.
In the meantime, the company transitioned to a holding company system led by GoodBelieve Holdings, and in 2018, the group promoted business expansion by acquiring other companies in the same industry. Negotiations for additional financing with financial institutions ran into difficulties, and cash flow deteriorated rapidly. In October of the same year, he requested a repayment postponement (reschedule) from the financial institution with which he did business.
In addition, during the negotiation process, it was discovered that the settlement of accounts was fraudulent in the past fiscal year. Credibility was lost, and although a business plan for reconstruction was presented, consent was not obtained from financial institutions, and some financial institutions sold their claims to servicers one following another. After that, there was a series of moves to cancel transactions on the business side, and the business was forced to shrink.
Due to the impact of the new coronavirus, it was unable to get out of the red, and due to the deterioration of the business environment such as the recent rise in crude oil prices, there was no prospect of reconstruction, and the business was suspended on July 31, 2022. .
Debts are regarding 5.789 billion yen for Good Believe, regarding 2.18 billion yen for Good Believe Holdings, regarding 45 million yen for With Career, and regarding 258 million yen for GB Cold Line, totaling regarding 8.272 billion yen for the four companies. It is 10,000 yen, but it is said that it may change in the future.