The fine had to be paid, but where would the money come from? The liquid funds on the company's books were immediately seized to pay it off, but that merely covered a fraction of the total. Li Chengrong wasn't stupid. He knew that if he didn't gather the money quickly, the court would directly seize and freeze all his fixed assets. Decisively, he liquidated all the properties under his name, including selling off all the valuable antiques and jewelry in his home.
Following that, the company's artists demanded to terminate their contracts. Li Chengrong let them go. After all, which top-tier star's termination fee wasn't in the tens of millions? By the end, apart from a few worthless trainees, he had essentially sold off everyone in the company.
Fortunately, he managed to scrape together the over one billion needed, but the company was completely ruined.
In early August, Yaoyang Entertainment Company finally declared bankruptcy.
Li Chengrong had long since moved out.
