Traditional Culture Encyclopedia - Hotel franchise - Why is Kunshan Lotus Hotel closed?

Why is Kunshan Lotus Hotel closed?

Too much debt. According to the information provided by Aiqi Tea, on April 29, 2020, the manager of Kunshan Yichu Lotus Catering Co., Ltd. applied to our hospital, saying that as of April 29, 2020, Kunshan Yichu Lotus Catering Co., Ltd. had no real estate; Its liabilities include tax creditor's rights 1623574.26 yuan; Ordinary creditor's rights 10663622.78 yuan. Up to now, the bankruptcy cost is 4350 yuan. Therefore, according to the provisions of Paragraph 4 of Article 43 and Paragraph 1 of Article 120 of the Enterprise Bankruptcy Law of the People's Republic of China, an application is made to the court to terminate the bankruptcy procedure. The court approved the bankruptcy application.