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In depth: Saving Peking University's fallen tech conglomerate

Founder Group undergoing bankruptcy reorganization after reckless expansion

The headquarters of Peking University Founder Group, which is undergoing a court-mandated bankruptcy reorganization after years of reckless expansion built on unsustainable debt.   © AP

Peking University Founder Group (PUFG) was once the poster child for the entrepreneurial spirit that flowed from the hallowed halls of China's elite universities in the 1980s as reform and opening-up fever gripped the country. Today, it has become yet another example of a debt-ridden sprawling conglomerate undergoing a court-mandated bankruptcy reorganization after years of reckless expansion built on unsustainable debt, with some corruption thrown in for good measure.

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