Technology

Chinese chip maker Tsinghua Unigroup faces bankruptcy restructuring after creditor takes it to court

Chinese chip maker Tsinghua Unigroup faces bankruptcy restructuring after creditor takes it to court

Indebted state-backed semiconductor manufacturer Tsinghua Unigroup, once seen as China’s biggest hope for reducing the country’s reliance on imported chips, said on Friday that one of its creditors has requested a court to begin bankruptcy proceedings against the company. Citing its inability to pay off debts and a lack of assets that could cover those debts.

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