When a subsidiary goes bankrupt, the parent company will not bear any responsibility, because the subsidiary has legal personality and can independently bear civil liability. However, the civil liability of the branch company shall be borne by the head office. Both subsidiaries and branches need to obtain business licenses.
Legal objectivity:
Article 125 of the Enterprise Bankruptcy Law, if the directors, supervisors and senior managers of an enterprise violate their duty of loyalty and diligence, resulting in the bankruptcy of their enterprise, they shall bear civil liability according to law. Persons under the circumstances specified in the preceding paragraph shall not serve as directors, supervisors or senior managers of any enterprise within three years from the date of the end of bankruptcy proceedings. Article 63 of the Company Law If the shareholders of a one-person limited liability company cannot prove that the company's property is independent of the shareholders' own property, they shall be jointly and severally liable for the company's debts.