Did table tennis player Wang go out of business?

Wang, a musical table tennis player, went bankrupt. Founder Wang wrote on his social media homepage that 100 stores closed down and 200 were transferred, from young entrepreneurs to destitution, from income of 500 million yuan to debt of 50 million yuan. Shandong Le Xuan Table Tennis Club Co., Ltd. was established on May 4, 20 15. The legal representative is Wang, and the company's business scope includes: table tennis indoor venue services; Organization, planning and consultation of sports events; Fitness service; Sales of sporting goods and equipment, cultural goods, fitness equipment, clothing and rubber products; Rental of sports equipment; Software development; Enterprise management consulting; Sports information consultation; Marketing planning; Corporate image planning; Conference and exhibition services; Career intermediary service.