Chapter 561

But, knowing when to pick his battles, he suppressed his anger and started to make his report.

“Because of the company’s slumping sales and the recent changes in the board, the distributors have lost confidence in the company’s prospects. Therefore they want to terminate their contracts and demand a refund for the goods they returned.”

“The distributors have so much unsold stock that their warehouses are full, that’s why they want a refund.”

“However, the company’s account does not have any cash left. Furthermore, there’s a significant amount of outstanding debt. Despite receiving demand notices from the bank repeatedly, we have no money to pay them back at all. If we continue along this trajectory, the company will likely fold soon.”

Zeke looked at the suppliers as if he had something in mind. “Is your decision to break ties with us firm? I am giving you another chance now. If you are remorseful, I’ll allow you to work with us again.”

Pfft!

Many in the crowd couldn’t help but snigger.

Walter, the suppliers’ representative sneered, “Mr. Williams, I’m worried that you’re the one who is oblivious to what the circumstances are. We should be the one giving you a chance instead of the other way round.”

“How are you going to manufacture anything without us supplying the raw materials? Without end products for sale, your company will not be able to function.”

Zeke replied, “Come on then, tell me what can you offer us?”

The suppliers’ representative, Walter answered, “To be honest, I did a background check on Linton Group.”

“It’s a small company that has just started to dip its toes into the pharmaceutical industry. But the amount of technical knowledge required by this industry is simply too much for someone inexperienced like you. Therefore, you are incapable of managing Reagan Pharmaceutical.”

“If you are willing to transfer part or all of your shares to Mr. Hugh and allow him to continue managing Reagan Pharmaceutical, we will then give you a chance and work with you again.”

Zeke couldn’t help but burst out in laughter upon hearing what he said.

His rude reaction infuriated Walter. “What are you laughing at?”

“If you don’t want to hand out your shares, then please settle your debt with us. Your company still owes me thirty million. If you can’t pay up, I’ll see you in court.”

The distributor’s representative quickly added, “We have returned our stocks to you but have yet to receive our refunds.”

“If we don’t get it by today, you better be prepared to go to prison.”

Zeke turned to look at Jacob and asked, “Hugh Junior, what do you think?”

There was only one thing in Jacob’s mind now. And that was to beat Zeke to death.

He felt humiliated every time he was called “Junior”.

Taking a deep breath, he suppressed his own anger and said, “Mr. Williams, as to how we should proceed, the decision is in your hands.”

“I can only help you provide a cost-benefit analysis. If you don’t meet their demands and are unable to fork out the cash, you will be heading to prison as the major shareholder.”

“If you accept their proposal and transfer your shares to me, not only will you escape jail time, but you will also receive a handsome transfer fee.”

“Your choice is between prison and a sum of money.”

Zeke felt a sense of melancholy as he sighed, “I went through a lot of trouble and sacrificed so much just to get the shares. Therefore, I feel really reluctant to let it go.”

Jacob really felt like murdering Zeke by now.

Come, tell he how much have you sacrificed?

The only reason you got the shares was because you blackmailed them out of my father!

Zeke continued, “Other than the share transfer, is there another way for me to avoid prison?”

Jacob calmed down and replied, “There are two other options.”

“The first is to declare bankruptcy...”

Zeke firmly remarked, “I’ll declare bankruptcy then.”

The crowd was dumbfounded.

Is he declaring bankruptcy just like that? He must be crazy.

Without any perseverance, he shouldn’t have run a business in the first place.

The ends of Jacob’s lips twitched vigorously.

If you declare bankruptcy you will lose everything too.