What should I do if the company is under great debt pressure?

Legal analysis: If the debt exceeds the company's property, the company shall apply for bankruptcy liquidation, and report to the people's court for confirmation after liquidation, and apply for cancellation of the company. Any enterprise has some debts to some extent, and the existence of debts has a profound and significant impact on the financial activities of enterprises. To strengthen enterprise debt management, on the one hand, we should give full play to the role of debt capital, on the other hand, we should enhance the solvency of enterprises. Control the debt scale and reduce interest expenses. There are two reasons for the formation of corporate debt: first, debt funds formed by bank loans, bond issuance, leasing and other financing methods; The second is the accounts payable formed by credit relationship and the expenses payable formed by simple financial treatment.

Legal basis: Article 186 of the Company Law of People's Republic of China (PRC). After clearing the company's assets, preparing the balance sheet and list of assets, the liquidation group shall formulate the liquidation plan and report it to the shareholders' meeting, shareholders' meeting or people's court for confirmation. After paying the liquidation expenses, employees' wages, social insurance expenses and statutory compensation, paying the taxes owed and paying off the company's debts, the company's property shall be distributed according to the proportion of capital contribution of shareholders of a limited liability company and the proportion of shares of shareholders of a joint stock limited company. During the liquidation period, the company shall survive, but shall not carry out business activities unrelated to liquidation. The company's property shall not be distributed to shareholders before it is paid off in accordance with the provisions of the preceding paragraph.

Article 187 If the liquidation group finds that the company's assets are insufficient to pay off debts after clearing up the company's assets and compiling the balance sheet and list of assets, it shall apply to the people's court for bankruptcy according to law. After the company is declared bankrupt by the people's court, the liquidation group shall hand over the liquidation affairs to the people's court.