The so-called cancellation refers to a liquidation action proposed by the court, which is one of the compulsory liquidation. No matter the company itself, its creditors, the company registrar and the bankruptcy administrator, they can request liquidation. So, should the catering business license be cancelled? Let's take a look at the introduction! 1. Do you want to cancel the catering business license? It is better to cancel it. If you don't want to cancel it, you can go to the industry and commerce to go through the formalities of suspension. When you don't have the annual inspection, your integrity in industry and commerce will be reduced, and it will have a little impact when you apply for a business license next time. There will be some troubles in taxation by the end of the year. If the cancellation is not normal, the second year's annual inspection will be regarded as automatic cancellation. The operator of the revoked enterprise or individual will be blacklisted by the industrial and commercial bureau, and may not be able to use his own name to register the company again within three years. The bad personal credit record will remain for seven years, and he will be fined. Second, what is cancellation? Cancellation refers to the liquidation proposed by the court and belongs to compulsory liquidation. No matter the company itself, its creditors, the Registrar of Companies or the Official Receiver can file a liquidation request. When the liquidation order is issued, the court will appoint a liquidator, and the Official Receiver can also act as provisional liquidator. The whole procedure involves many meetings of directors, shareholders and creditors. III. Liquidation methods Liquidation can be divided into voluntary liquidation by shareholders, voluntary liquidation by creditors and compulsory liquidation by the court. (1) Voluntary liquidation of shareholders To conduct voluntary liquidation of shareholders, the following conditions must be met:-The company's account books are complete-the majority of shareholders agree through a special resolution of the shareholders' meeting-the company has the ability to repay its debts-a liquidator must be appointed to monitor and handle the whole liquidation process; (2) creditors voluntarily liquidate to conduct voluntary liquidation of creditors, The following conditions must be met:-the company's account books are complete-the company is unable to pay off all debts and cannot continue to operate-the company is appointed by creditors to be responsible for monitoring and handling the whole liquidation process-the liquidator must be a certified public accountant or lawyer; and (3) the liquidation is compulsory by the court.