Legal analysis: the company is about to close down and can apply for bankruptcy. The conditions for the bankruptcy of a company are as follows: the company cannot pay off its due debts, and the creditors can apply to the people's court for reorganization or bankruptcy liquidation of the debtor. Or if the company has been dissolved but has not been liquidated or liquidated, and the assets are insufficient to pay off the debts, the person liable for liquidation according to law shall apply to the people's court for bankruptcy liquidation.
Legal basis: Article 2 of the Enterprise Bankruptcy Law of the People's Republic of China. If an enterprise as a legal person is unable to pay off its debts due, its assets are insufficient to pay off all its debts or it obviously lacks solvency, it shall clear up its debts in accordance with the provisions of this Law. An enterprise as a legal person may be reorganized in accordance with the provisions of this law if it has the circumstances specified in the preceding paragraph or obviously loses its solvency.