China soybean firm Sunrise files for bankruptcy after debts pile up

BEIJING: Chinese soybean crusher Shandong Sunrise Group has filed for bankruptcy after failing to repay its debts, according to a court filing, highlighting the problems facing the sector from shrinking demand for animal feed and tight credit.

The company, once one of the country’s largest soybean importers, registered the bankruptcy last Friday with a court in the county of Juxian in Shandong province, according to a filing on a website run by China’s Supreme Court.