The new owner will assume the liability
Not necessarily.
If the transaction is structured as a purchase of the company, then this would be true. The stock of the old company would transfer to new stockholders.
If someone purchases the assets, including the trademark, then the new owner has no liability. So the same factory could continue to produce the same designs on the same machines in the same buildings with the same brand, and no liability.
The old corporation would still have the liabilities, but no assets with which to satisfy them.
