Is your company insolvent? If you can no longer meet the responsibilities of your debt then you might be considering closing down your company. The most effective way to do this is with a company bankruptcy, which is also known as a company voluntary arrangement, allowing you to shut down operations whilst minimising your own personal exposure to liability.
One of the benefits of choosing a company bankruptcy is that you are allowed to choose your own liquidator. They act as the authority in charge of selling off any remaining assets owned by your company, with the funds raised from this process used to satisfy your remaining debts. Sometimes it is also possible to repurchase your company following a liquidation and restart under a new name free from the responsibilities of debt. At McTear Williams & Wood we have assisted numerous companies in such a process and are ideally placed to provide you with assistance should you be considering such a route back to business.
Are you looking to find out more about your available options? In one short consultation session we can discuss a potential company bankruptcy at our offices in East Anglia. This will outline exact what is entailed by the liquidation alongside providing you with the best course of action for you and your company.
If you are thinking of going through a company bankruptcy this could be an extremely difficult time in your business life as a director. However, there could still be a number of options available to you.
Act now to find out all the facts about your current situation. However, be aware that as creditor pressure mounts, some options will close off to you in the course of time. Call us now to discuss your company bankruptcy at our offices in East Anglia. Contact McTear Williams & Wood today on 0800 331 7417