China’s $30 Billion Empire Suning Goes Bankrupt: Carrefour Sold for 1 Yuan, Ruined in Just 10 Yrs

From a retail giant based on “channel dominance” to rapid “capital dominance” expansion, and now a “debt dominance” end, Suning has been dragged into a heavy debt spiral. Many are shocked at how quickly this once-thriving empire has collapsed—just ten years from its peak to its fall.