Can't pay off all debts! Bankruptcy of a cement enterprise in Zhejiang

Recently, the People's Court of Chun'an County, Zhejiang Province, announced that Chun'an Qianfeng Cement Co., Ltd. had officially declared bankruptcy. According to

the data, on January 15, 2024, the People's Court of Chun'an County, Zhejiang Province, decided to accept the bankruptcy liquidation case of Chun'an Qianfeng Cement Co., Ltd. (Hereinafter referred to as Qianfeng Cement Co., Ltd.) On the basis of the application of Fenkou Holiday Hotel in Chun'an County.

It was found that as of November 26, 2025, a total of 3064087.70 yuan of assets had been recovered after the administrator's liquidation and capital verification. According to the standard of creditor's rights examination, the administrator examines and confirms that there are five 11739613.71 of creditors without objection after verification by the creditors'meeting.

At the same time, no creditor or debtor has proposed reorganization to the court. The People's Court of Chun'an County, Zhejiang Province, held that because Qianfeng Cement Company could not pay off its debts due and its assets were insufficient to pay off all its debts, it met the bankruptcy conditions. In accordance with the provisions of Article 2 and Article 107 of the Enterprise Bankruptcy Law of the People's Republic of China, the Court declared the bankruptcy of Chun'an County Qianfeng Cement Co., Ltd. on November 27, 2025.