Correct

不死不活

/ bù sǐ bù huó /
Strokes

Example

Definition

(of an enterprise, etc) be badly run; neither alive nor dead; half-dead; lifeless; lethargic

1
huó
不死不活
de
企业
tuō
zhāo
  
,
不如
gāncuì
干脆
jiěsàn
解散
  

It would be better for a badly-run enterprise to be dissolved than to let it hang on.