A large local textile company in Zhangwan District, Shiyan ran into difficulties and was forced to go bankrupt due to debt. The news has been revealed by niche media before. This time we learned that we are preparing to auction the factory on the 25th of this month, with a price tag of 127 million yuan.
According to the auction introduction, located at No. 153 Xicheng Road, Shiyan City, Hubei Province, Shiyan Jinding Textile Industrial Co., Ltd. has an industrial land of 105,250.6 square meters, equivalent to 157.875 acres, 36 certified houses, a construction area of 61,528.58 square meters, and 53 unlicensed houses. Area 10806.64 square meters.
The property is divided into factory buildings and office buildings, single buildings for men and women, canteens, etc. There are water leaks in many roofs. There are 5.228 acres of Berlin Village land in the factory area used by Jinding Company, but it is not included in the 157.875 acres of land. Jinding Company has 0.4 acres of land occupied by Berlin Village to temporarily transform into a supermarket.
Shiyan Jinding Textile Industrial Co., Ltd. has invested in 3 companies and has 1 branch. Mainly engaged in cotton yarn, cotton cloth, clothing, mechanical shaft products, and packaging materials. They respectively own 4% of the shares of Hubei Longji Technology Co., Ltd. and 51% of the shares of Shiyan Jinliansheng Textile Co., Ltd. In addition, the guest house of Shiyan Jinding Textile Industrial Co., Ltd. has been revoked.
The company also has five patents for double-resistant acrylic fabric yarn, a heavy-hammer cotton feeding device for cleaning cotton feeders, and a water twister for automatic winding machines. He also presided over the state-owned industrial and mining shanty town reconstruction project of Shiyan Jinding Textile Industrial Co., Ltd.
On September 25, 2018, the Intermediate Court of Shiyan City, Hubei Province issued a (2018) 03 Poshen No. 9 Civil Ruling based on the bankruptcy liquidation applications of four related companies, including Jinding Company, and determined that the existing materials were passed It shows that Jinding Company cannot pay off its due debts and has been in a continuous state and is insolvent. The ruling was made to accept the bankruptcy liquidation application of the applicant Shiyan Jinding Textile Industrial Co., Ltd. On November 2, 2018, the Shiyan Intermediate Court issued the (2018) E 03 Po No. 5 decision, appointing Hubei Changtaixiang Bankruptcy Liquidation Service Co., Ltd. as the administrator of Jinding Company.
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