Phenomenological Study on the Liquidation of the Regional Public Company Pasir Putih in Situbondo Regency

Regional-Owned Enterprises (BUMD) play a crucial role in enhancing the national economy in general, but even more importantly, they contribute to the economic development of specific regions. This study aims to identify the causes of the liquidation of the former Pasir Putih Regional Public Company in Situbondo Regency and to understand the experiences of the liquidator and the liquidation team in this process. This research employs a qualitative approach. The findings reveal that liquidation is understood through the characteristics, impacts, and roles of the liquidator, which can be either secondary or primary. The motivation of the liquidator is influenced by internal factors, challenges, and liquidation opportunities. The process and strategy of liquidation are also affected by the understanding of the company, with the goal of ensuring that the process proceeds correctly and without errors. This study provides important insights for the practice of liquidating regional companies in Indonesia.