Prompted by Robert, Manager Cameron Oaks spoke with great passion, “Gentlemen, Koteff entered the department store and supermarket field at the beginning of the year.
We have already achieved remarkable results in Vienna.
In just three short months since opening, we have gone from zero to being number one in the industry…”
“I’m sorry to interrupt, Mr.
Cameron, but if the ‘number one’ you’re referring to is being number one in industry losses, then I think this is completely unnecessary!” James Hurd interrupted Cameron bluntly.
James Hurd was Robert’s uncle, the company’s second-largest shareholder, and the former Director of Human Resources.
He had founded Koteff Department Store alongside Old Robert and held significant influence over the company, though he was now retired.
Robert’s expression changed drastically.
The fact that the retired James had shown up clearly meant he was very dissatisfied with him.
“Mr.
James, the losses are only temporary.
Once we drive our competitors out of the market, it will be time for us to reap the rewards!” Cameron argued.
“Then tell me, Mr.
Cameron, how much longer will it take to drive all the competitors out?” Jamal Hurd (Robert’s younger brother) asked with a cold sneer.
Seeing Cameron fall silent, Jamal continued, “You must realize that our losses are increasing every day.
Koteff may have a large business and great assets, but do not forget that our foundation is the department store, not the supermarket!
We cannot pour all our strength into this bottomless pit!”
Seeing that Cameron had been defeated, Robert knew it was his turn to step up.
After a moment of reflection, he said, “Alright, things have already reached this point; there’s no use dwelling on what’s already done!”
“Our Koteff has already invested too much in supermarkets—a full eighty thousand pounds!
Gentlemen, do you think we can still back out now?”
“What?
Eighty thousand pounds?
Are you sure you didn’t misspeak!” Jamal jumped up at once, questioning Robert.
“My dear brother, the information was sent to all shareholders yesterday.
Don’t tell me you didn’t receive it!” Robert said irritably.
Robert had always lacked patience for this playboy younger brother of his.
He cursed inwardly, ‘Damn it, at a time like this, this idiot is still making trouble for me.
I don’t know how it happened; we’re both from the Heard Family, so how did such an idiot emerge!’
Jamal gave an embarrassed laugh and then returned to his seat; he was clearly still somewhat afraid of his older brother.
The company has already invested eighty thousand pounds, which is a tenth of Koteff’s assets.
We are already riding a tiger and cannot get off.”
He paused, and seeing that no one spoke, James asked, “Robert, I’m afraid the company’s cash flow is about to run into problems.
What is your countermeasure?”
“The company has made a lot of money over the years, and everyone’s annual dividends have not been small.
I hope the shareholders will inject a sum of money into the company to help with turnover.
In principle, the capital will be contributed proportionally!” Robert said calmly.
The room instantly erupted into a hubbub of discussion, with some agreeing and others opposing.
“To get the company through the crisis, what is the specific amount of the shortfall?” James asked with concern.
Everyone turned their gaze toward Robert, filled with expectation.
It seemed that if the gap wasn’t too large, they were prepared to put up the money.
“I’ve had someone bring over the company accounts.
The current funding gap is two hundred thousand pounds—which is to say, five years’ worth of everyone’s dividends!” Robert said solemnly.
Everyone’s faces changed simultaneously.
This number was simply too large; even when divided by shareholding, it was no small amount.
They certainly had the assets, but no one kept that much cash lying around for no reason; it was either spent or invested in industries.
“How could it be so much?
The supermarket project only had eighty thousand pounds invested!” Jamal asked, his face pale.
“It’s very simple; the department store has also been impacted.
Many of our goods overlap with the supermarket,”
“which has already affected our profits.
The key is that the supermarket project still needs continued investment.
This figure is only an ideal state; more funds may be needed later!” Robert explained.
“We can provide the money, but what is your ultimate goal?” James asked, staring intently at Robert.
Robert knew that as long as he persuaded James, today’s matter would be settled.
The others were of no concern, as their combined shares exceeded two-thirds.
“Clear out those small fry and let Koteff Department Store and Volvo stand as equals!” Robert said solemnly. This chapter was copied from g.com without permission.
“Hmm, very well.
Although this goal is somewhat difficult, it still has some feasibility!” James showed a long-awaited smile.
Frankly speaking, Robert was the most capable in the next generation of the Heard Family, and James had always thought highly of this nephew.
At the same time, he was also worried about Robert’s arrogance.
The Heard Family was merely a latecomer in the field of Capitalists and did not have that much strength; Austria-Hungary was still a world of aristocrats.
This time, Robert had directly started a price war without resorting to other tactics.
It wasn’t that his moral character was particularly high, but rather that he simply didn’t dare to break the rules.
Facing the House of Koháry, they wouldn’t have chosen to enter the market at this time if not for the support of the Hungarian flour capitalists behind them.
“By the way, Robert—what do those Hungarians say?
Now is the time when we need them to exert themselves!” James went straight to the core of the matter.
“I have already communicated with them, and it wasn’t very ideal.
Beyond what was previously agreed upon—providing us with a two hundred thousand pound loan and allowing us to purchase flour at cost price—they don’t intend to put in any more effort,” Robert said bitterly.
Indeed, two hundred thousand pounds was a large sum of money, but it was a loan, and a collateralized one at that.
Aside from being able to purchase flour at cost, they had not obtained the expected benefits.
“Is this not as expected?
They couldn’t possibly go to great lengths for us.
You must finalize these terms quickly.
If Ferdinand reacts, we probably won’t even get these, and it won’t be so easy to want a loan later!” James instructed solemnly.
Robert said bitterly, “Alright, Uncle, I’ll see to it immediately!”
Clearly, this incident had dealt him a heavy blow; the influence of the old-money aristocrats exceeded his imagination.
Ferdinand had only shown a slight bit of goodwill, and those flour Capitalists had shrunk back.
“Robert has already fallen into the trap.
Franz, what do you plan to do next?” Ferdinand asked, looking at Franz expectantly.
“Your Highness, it would be better to let them sink even deeper before we act!
For now, I plan to clear the field first.
For instance, by lowering prices by another 5 percentage points, half of the supermarkets in Vienna will be dead within two months!” Franz said with a mischievous grin.
Ferdinand laughed along.
Although all the supermarkets in Vienna were losing money, Shuanghui Food Group was making a killing.
As retail prices dropped, sales volume increased, yet the factory prices remained unchanged.