Shanghai: The receiver of the bankrupt shipyard Judger Shipbuilding is publicly looking for investors in an effort to rescue the yard.
According to an announcement from the receiver, the yard is seeking investment from the shipbuilding and logistics sectors including distribution and warehousing.
Judger Shipbuilding filed for bankruptcy in April and reported debts of RMB1.924bn ($310.3m).
An official from Judger Shipbuilding’s receiver told Splash that the restructuring process of the shipyard is not optimistic amid the current recession, and the yard’s assets will go to auction if new investors are not found.
Judger Shipbuilding’s parent Judger Group, a multi sector enterprise mainly engaged in the business of clothing and real estate, has been under an ongoing restructuring process since February.