“‘法’润营商沃土”系列报道丨破产重整，助力危困企业“涅槃重生”

Core Viewpoint - The successful restructuring of Zhongou Electric, which was on the brink of bankruptcy, demonstrates the effectiveness of judicial support in creating a favorable business environment and ensuring the healthy development of the real economy [11]. Company Overview - Zhongou Electric was established on December 8, 2016, with a total investment of 200 million yuan, and is a national high-tech enterprise located in Suqian Economic Development Zone, specializing in the production and sales of household appliances and accessories [3]. - The company has an annual production capacity of 200,000 washing machines and has been listed among the "Top Ten Washing Machine Brands in China" for several consecutive years, achieving a revenue of 140 million yuan in 2023 [3]. Challenges Faced - Following the unexpected death of the founder in January 2024, Zhongou Electric faced operational difficulties, leading to a cash flow crisis and eventual suspension of production in June 2024 due to over 70 million yuan in debts [4][3]. - The potential bankruptcy posed a risk not only to hundreds of employees but also to the interests of 289 creditors, prompting local authorities to seek solutions for the company's revival [4]. Restructuring Process - The Suqian Economic Development Zone People's Court initiated a pre-restructuring process on December 16, 2024, after evaluating the company's assets and debts, and appointed a bankruptcy administrator to guide the restructuring efforts [4][6]. - A critical aspect of the restructuring was attracting investment, which was achieved through a rigorous recruitment and bidding process, resulting in an investment of 67 million yuan from a designated investor on March 11, 2025 [6][8]. Outcomes of Restructuring - The restructuring plan was approved by the court on May 19, 2025, leading to the lifting of asset freezes and the restoration of the company's credit status, facilitating its operational recovery [11]. - By July 2025, the repayment rate for ordinary creditors increased significantly from 30% to 90%, and hundreds of employees were able to return to work, preserving their jobs [11]. - Following the successful restructuring, Zhongou Electric's production operations resumed rapidly, with a production value exceeding 20 million yuan within two months of the court's approval of the restructuring plan [11].