How long will it take for the company to declare bankruptcy?

Legal analysis: there is no specific time for bankruptcy liquidation. Generally, it will take a long time, and several years is common. The bankruptcy law only stipulates the time when the court accepts the bankruptcy application. There is no legal time for enterprise bankruptcy liquidation, which is not an oversight in law, but because the situation of enterprise bankruptcy is very complicated, and some bankruptcies may not be liquidated in one year, let alone completed in a few working days. Because bankruptcy may reorganize, reorganization means continuing to operate, which is even more difficult to say at this time. And if the enterprise finally has no property to distribute, it can directly enter the termination stage, but it is a long process of assets verification. Therefore, if an enterprise goes into bankruptcy liquidation, the best time unit is month, usually this period is at least one year.

Legal basis: Article 10 of the Enterprise Bankruptcy Law of the People's Republic of China. Where a creditor applies for bankruptcy, the people's court shall notify the debtor within five days from the date of accepting the application. If the debtor has any objection to the application, it shall submit it to the people's court within seven days from the date of receiving the notice from the people's court. The people's court shall decide whether to accept the objection within ten days from the date of expiration. Except in the circumstances specified in the preceding paragraph, the people's court shall decide whether to accept the bankruptcy application within 15 days from the date of accepting it. If there are special circumstances that need to extend the time limit for accepting the ruling stipulated in the preceding two paragraphs, it may be extended for fifteen days with the approval of the people's court at the next higher level.