1, the market demand situation has changed, resulting in unsalable products and decreased output. For example, Huantai Juli Weaving Co., Ltd. is Huantai County Supply and Marketing Cooperative, which separated the workers, equipment, workshops and other facilities originally belonging to the textile workshop of Zibo No.1 Oil Cotton Factory in order to implement the policy of separating the main from the auxiliary of the superior cotton purchasing enterprise, and at the same time pulled the non-performing loans from the bank originally belonging to No.1 Oil Cotton Factory to the enterprise, resulting in the enterprise being heavily in debt from the beginning, unable to operate and forced to file for bankruptcy.
2. The person in charge of the enterprise is not enterprising, with a weak sense of responsibility, lax financial system and chaotic account management. In bankrupt enterprises, financial personnel change frequently to varying degrees, only changing people without paying accounts, and the accounts are discontinuous; There are many problems such as poor implementation of financial system, inability to settle accounts and write off accounts.
3. The liquidity is seriously insufficient, and the enterprise cannot operate normally. Especially when the country is tightening monetary policy, enterprises can't borrow money from banks, and there is no other financing channel, which leads to enterprises' failure to produce normally, and even the best equipment can't give play to its advantages. The assets of an enterprise cannot effectively generate profits, which reduces the utilization rate of resources.
4, enterprise managers make mistakes in decision-making. Without a serious feasibility study, blindly expanding reproduction or investing in new projects will cause the business burden of enterprises to be too heavy, which will make the enterprises with poor business conditions worse. For example, Hong Xiang Textile Company, relying on Taikang Food Factory, hastily set up a project and started construction without fully investigating the market, capital, staff quality, market share and other factors, resulting in a serious shortage of current assets, low product quality, hasty shutdown and bankruptcy filing.
(2) Internal reasons:
1, debt management.
Debt management is an activity that enterprises use foreign capital through legal channels to carry out production, operation and management and obtain profits. Its purpose is to expand the scale of enterprises and promote their further development, not just for the survival of enterprises. Reasonable financing is the main function of hematopoiesis and financial management of enterprises, the premise of maintaining normal operation of enterprises and the important content of modern financial management. Debt management is a double-edged sword, which, if used well, can enable enterprises to raise needed funds quickly, reduce operating costs, reduce tax expenditures and obtain financial leverage benefits. If it is not used well, it will bring disaster to the enterprise. However, if enterprises unreasonably choose the amount, limit, channels and methods of debt and improperly use debt funds, it will also bring many negative effects to enterprises. Risks caused by excessive debt scale.
Because debt capital not only pays fixed interest, but also repays the principal according to the agreed terms, it is a fixed financial burden for enterprises. Once business risks occur, enterprises will face greater wealth and lead to bankruptcy.