Liquidation To Close a Business
Our liquidation experts can set out your company’s liquidation options and answer any queries you have. Should you wish to close the business down we can assist and set out the liquidation procedure in a friendly and clear manner. Contact our liquidation experts today and we can help you with free no obligation advice.
“Liquidation is a way for a director to take back control of a struggling company. By entering liquidation company debt can be written off in an instant.”
Liquidation can be used to close a business and write off the company debt. The Insolvency Act 1986 sets out the legal framework to place a company into liquidation. A director requires a liquidation expert known as an insolvency practitioner in order to place the company into liquidation. We are liquidation experts (insolvency practitioners) who provide assistance and advice on how to place a company into liquidation.
“The director’s aim and what they wish to achieve is the most important thing in any liquidation. Once this is fully understood, all advice flows from this premise”
If the aim of the director is simply to close the business then liquidation can be the right option. We take into account the reasons for the business struggling whether this be large HMRC debt or the company experiencing bad debt the company can be placed into liquidation so that the director can walk away from the company debt. Once the company is placed into liquidation the director is free to enter into any other business dealings as he or she sees fit whether that be getting a salaried job, starting another business venture or simply retiring; liquidation in this scenario can be used to write off HMRC or other company debt. Contact Our Liquidation Experts To Find Out More.
Liquidation means that the business has ceased to trade if not before then on the date of liquidation. The liquidator is appointed on the date the company enters liquidation and realise to the best of their ability any assets of the company. This includes assets that are owned by the company as at the date of liquidation. The liquidator will then try to realise these assets for market value on behalf of liquidation creditors and then pay a dividend to those liquidation creditors where appropriate. Contact Our Liquidation Experts To Find Out More.
The liquidation process is the same whether the company is an international business or a small to medium size enterprise. Liquidation is available to help close a business in a cost effective way when the company is struggling financially. Directors cannot successfully apply for dissolution or striking off if there is company debt owing, therefore liquidation is a useful process to close a business down.Contact Our Liquidation Experts Now.