常州老牌饲料企业债务危机四个月逆转

Core Viewpoint - Changzhou Dajiang Feed Co., Ltd. has successfully undergone a bankruptcy restructuring process, overcoming a debt crisis of 200 million yuan and achieving operational recovery with zero layoffs for employees, showcasing a model for optimizing the business environment in China [1][6]. Group 1: Company Background and Crisis - Established in 1992, Changzhou Dajiang Feed Co., Ltd. was a leading brand in the agricultural sector of Changzhou, with its products widely distributed in East China. However, starting in 2020, the company faced multiple crises, including debt defaults and legal issues, leading to a reported external debt of 200 million yuan before the bankruptcy proceedings began in 2024 [2][3]. - The company’s trademark remained well-known, and its production license was still valid, providing a glimmer of hope during the bankruptcy process [2]. Group 2: Restructuring Process - The bankruptcy court in Changzhou initiated a collaborative mechanism with local government to address the company's issues, focusing on information sharing and coordinated efforts to resolve problems related to the bankruptcy [2][3]. - A professional team was formed, including Jiangsu Yuanbo Law Firm and Changzhou Hengxin Accounting Firm, to manage the restructuring process. They discovered that the company had a seasonal financial pattern, which became a key factor in the restructuring plan [3][4]. - The restructuring involved public recruitment of potential investors through various platforms, ultimately selecting Shanghai Kewang Feed Co., Ltd. as the investor due to its relevant industry experience and the highest investment amount [4][5]. Group 3: Outcomes and Future Prospects - The restructuring plan ensured 100% repayment of secured and tax debts, while ordinary creditors received a 17% repayment. The plan allowed the company to retain its operational identity and valuable assets, facilitating a smoother transition into a sustainable business model [5][6]. - Post-restructuring, the company has resumed full production and maintained employee positions, enhancing its market competitiveness and operational vitality [6][7]. - The bankruptcy restructuring mechanism has been effective in saving distressed companies, with Changzhou courts reportedly rescuing 26 companies and resolving nearly 7 billion yuan in bad debts from 2021 to 2023 [7].