Shanghai Meilan Cosmetics Co., Ltd., which once swept across China with its iconic tin-box face cream, has officially completed the final stage of bankruptcy liquidation. According to a ruling issued by the Shanghai Pudong New Area People’s Court, the legacy daily chemical enterprise had only 95,800 yuan (approximately $14,200) in disposable book assets, while confirmed claims reached 19.42 million yuan (approximately $2.9 million). Unable to even cover the 98,800 yuan (approximately $14,644) in basic bankruptcy liquidation expenses, the court determined the company had no assets available for distribution, leaving all ordinary creditors with zero recovery.
This marks the definitive exit from the market of a homegrown daily chemical…