People have joys and sorrows, and the moon has ups and downs. The road to entrepreneurship cannot be smooth. According to statistics, the failure rate of entrepreneurship is more than 80%, which means that a large number of people have failed in entrepreneurship. Failure is really unacceptable, but when we have to face this matter, we should know that after the failure of the company, How to carry out enterprise bankruptcy liquidation ？

First of all, what is bankruptcy liquidation? Bankruptcy liquidation refers to the liquidation carried out in accordance with the provisions of the Bankruptcy Law when the company is unable to pay off its due debts. Article 191 of the Company Law of the People's Republic of China stipulates that "if a company is declared bankrupt according to law, bankruptcy liquidation shall be carried out in accordance with the law on enterprise bankruptcy".
1. Bankruptcy declaration

The bankruptcy declaration shall be served on the debtor and the administrator within five days from the date of the people's court's ruling, and the known creditors shall be notified and made public within ten days from the date of the ruling.
2. Bankruptcy Property Valuation Scheme

The liquidation plan of the bankruptcy property shall be drawn up by the administrator and submitted to the creditors' meeting for discussion and approval.
3. Conversion

The administrator sells the bankruptcy property by auction in accordance with the plan for the liquidation of the bankruptcy property adopted by the creditors' meeting or decided by the people's court. Unless otherwise decided by the creditors' meeting.
4. Liquidation

The bankruptcy property shall be paid off in the following order. If the bankruptcy property is not enough to pay off the claims in the same order, it shall be distributed in proportion.

（1） Bankruptcy costs and co beneficial debt;

（2） Wages, medical treatment, disability subsidies and pension expenses owed by the bankrupt to employees, basic endowment insurance and basic medical insurance premiums owed that should be transferred to the individual accounts of employees, and compensation payable to employees as required by laws and administrative regulations. The salaries of the directors, supervisors and senior managers of the bankrupt enterprise shall be calculated on the basis of the average salaries of the employees of the enterprise;

（3） The social insurance expenses and taxes owed by the bankrupt other than those specified in the preceding paragraph that are not paid by the bankrupt;

（4） Ordinary bankruptcy claims.
5. End

After the company has no property available for distribution or the final distribution is completed, the manager submits to the people's court for a ruling to terminate the bankruptcy proceedings. If the people's court decides to terminate the bankruptcy proceedings, it shall make a public announcement.

The administrator shall, within ten days from the date of the termination of the bankruptcy proceedings, handle the cancellation of registration with the original registration authority of the bankrupt on the strength of the ruling of the people's court on the termination of the bankruptcy proceedings.

The failure of entrepreneurship is terrible for entrepreneurs, but life needs hard work. How can you know if you can't do it without trying? But at the same time, we should also combine our own abilities and not start a business blindly, otherwise we may lose everything after the failure of entrepreneurship, Second Brother I would like to advise you that entrepreneurship is risky and you must be cautious!