Southeast Asia Information Port News (www.dnyxxg.com) – In Hunan Province, Bubugao Commercial Chain Co., Ltd., once hailed as "China's first listed private supermarket," and its 14 subsidiaries have been reborn after undergoing judicial reorganization.
It is reported that the company once had debts of 22.77 billion yuan (RMB), was embroiled in 571 legal disputes, and faced the risk of delisting. This reorganization, a joint effort between the government and the courts, not only introduced four industrial investors but also attracted industry benchmark Pang Donglai to participate in in-depth restructuring, helping the company turn a profit.
This case is a microcosm of how Hunan courts utilize the bankruptcy reorganization system to serve industrial development. The Hunan Provincial Higher People's Court revealed on the 27th that in 2025, Hunan courts legally concluded 1,179 bankruptcy cases, promoted the "standardized exit" of 1,129 enterprises, helped 50 enterprises regain their vitality, resolved 128.31 billion yuan in debt, and revitalized 29.2682 billion yuan in existing assets.
In bankruptcy reorganization practice, courts at all levels have explored diversified rescue paths for different types of enterprises. For example, in a bankruptcy liquidation case of an automobile company, the Changsha Intermediate People's Court guided the administrator to flexibly adopt an asset disposal measure of "demolition of old assets + introduction of new ones," introducing two key enterprises to revitalize thousands of acres of idle land and hundreds of thousands of square meters of factory buildings, transforming them towards artificial intelligence and advanced manufacturing.
The Zhuzhou Intermediate People's Court, in handling the merger and reorganization case of three "specialized, refined, and innovative" enterprises, relied on the enterprises' own technological advantages to stabilize the supply chain without external investors, becoming a model of internally driven self-rescue reorganization.
Yan Wei, Chief Judge of the Second Civil Division of the Hunan Provincial Higher People's Court, stated that for enterprises in distress but with market value, the courts should effectively utilize the bankruptcy law as a "rescue hospital" for such enterprises. (End)
