Home > News > Content

Shandong Changlin And Chenxi Two Large Enterprises Have Gone Bankrupt

Aug 01, 2018

Changlin Group went bankrupt and reorganized, with claims of 7 billion, and 7 companies invested 2.1 billion.

Changlin Group and Chenxi Group have been the two large-scale manufacturing enterprises concerned by the manufacturing industry. Yesterday, Chenxi announced bankruptcy news, and then associated with Changlin, who announced bankruptcy and reorganization a week ago. According to relevant media reports, on July 18, the second creditor meeting of 19 companies including Changlin Group will be held in Linyi. It is understood that at this meeting, the creditors will be on Shandong Changlin Machinery Group Co., Ltd., etc. Nineteen company restructuring plans (draft) (hereinafter referred to as "reorganization plan") vote.

The reorganization plan shows that the 19 companies such as Changlin Group have a credit amount of 7 billion yuan and a net asset of 3.897 billion yuan. Six Linyi local enterprises, including Shandong Xianglong Industrial Group, will become investors, investing 2.136 billion yuan to repay debts and acquire 100% of the 19 companies including Changlin Group.

Shandong Chenxi Group filed for bankruptcy, 40 billion refining and chemical enterprises crashed down

At present, the refining and chemical industry has suffered a large loss, which has become the last straw to crush individual enterprises. Recently, the Chenxi Group, which was ranked second in the “Top 100 Private Enterprises in Shandong”, has formally filed for bankruptcy.

According to the ruling issued by the National Enterprise Bankruptcy Reorganization Information Network, on July 20, 2018, the People's Court of Jixian County of Shandong Province issued the "Civil Ruling Book (2018) Lu 1122 Breaking the No. 2". This document shows that "On July 16, 2018, Shandong Chenxi Group Co., Ltd. filed for bankruptcy reorganization with the Court on the grounds that it could not pay off its debts due and apparently lacked liquidity.