Reasons for the closure of Dongguan Sima Holiday Hotel

The industry is not standardized. According to official website of Dongguan Sima Holiday Hotel, the closure of Dongguan Sima Holiday Hotel was due to the nonstandard industry. Bankruptcy refers to the fact that a company is declared by the court to stop its business and clear its creditor's rights and debts because it can't pay off its due debts, its assets are insufficient to pay off all its debts or it obviously lacks solvency.