Feldmuehle in insolvency proceedings under self-administration

Feldmuehle announces that the company “has implemented all necessary steps to maintain business operations during the preliminary proceedings”.  On 01.08.2025, the insolvency proceedings under self-administration will commence as  planned. As in the preliminary self-administration proceedings, the management will continue  to be responsible for all operational processes, including financial management, under the supervision of the court-appointed…

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First bankruptcy declaration by a Chinese state-owned enterprise | Today in History | Fun Fact

Published : 2025-08-03 On August 3, 1986, the Shenyang Explosion-proof Equipment Factory (瀋陽防爆器械廠) went bankrupt, becoming the first state-owned enterprise to go bankrupt after the founding of the People’s Republic of China. The Shenyang Explosion-proof Equipment Factory was established in 1966 and was just a small enterprise with fewer than a hundred employees. …