China Computerworld Shuts Down Due to Business Operation Struggles

Garrett_Li

Garrett_...

· 4月28日

China Computerworld said in the notice that the company has been suffering heavy losses since the onset of the Covid-19 pandemic. In early 2022, the company had no cash inflows and since then has been unable to pay its employees and other operation costs. The company even had to borrow money from several sources so as to pay employees’ social insurance and housing fund. Many subsidiaries connected to China Computerworld have been denied access to their bank accounts. The company’s legal person is also trapped in somewhere else, which did not help the company deal with the situation.

Image Source: Visual China

Image Source: Visual China

BEIJING, April 27 (TMTPOST) — The 42-year-old Chinese magazine China Computerworld announced on Wednesday that the company will suspend operation on April 27 and that all employees would wait for further notice.

China Computerworld said in the notice that the company has been suffered heavy losses since the onset of the Covid-19 pandemic. In early 2022, the company had no cash inflows and since then has been unable to pay its employees and other operation costs. The company even had to borrow money from several sources so as to pay employees’ social insurance and housing fund. Many subsidiaries connected to China Computerworld have been denied access to their bank accounts. The company’s legal person is also trapped in somewhere else, which did not help the company deal with the situation.

Employees without receiving salaries have filed for labor arbitration. There are around ten active artitration cases. Some employees chose to turn to Labor Supervision Group for complaints. The supervisor who got to study the case stated that there have been many companies plaguged with smiimar problems in the recent two years. Even if the supervision agency issues orders requiring companies to pay overdue salaries, companies are still too cash-strapped to do so.  

China Computerworld stated that it is no longer able to continue business operation.

Founded in 1980, China Computerworld is one of top ten newspapers in the country. It is a newspaper that specializes in the computer and information technology sectors. The newspaper is co-published by the Digital Technology Intelligence Center of the Ministry of Industry and Information Technology and IDG (International Data Group).

China Computerworld focuses on both the technical aspect and industry insights. The newspaper has been committed to bridging the information gap between businesses and users and connecting technologies with the industry.

The newspaper officially stopped publishing its print version in June 2021.

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