If your business has taken a significant downturn then you may be considering a company bankruptcy. When debt and constant communication with creditors is consistently impacting your ability to do business, you can legally close down with a company voluntary liquidation without suffering the personal liability that may come with a strike off.
In a company voluntary liquidation you are allowed to appoint your own liquidator to finalise your financial affairs. This agency is tasked with selling off your remaining assets in order to satisfy the final demands of your creditors.
Sometimes directors can purchase their business at this final auction and relaunch the company as a new entity, recovering growth and profitability. McTear Williams & Wood has guided a number of clients through this process. Hence we have a considerable experience of all the potential pitfalls and can make a similar transition as smooth as possible for you.
If you would like to know more, then please call our main office number and arrange a meeting to discuss your company bankruptcy at our Chelmsford offices. Over the course of a 1-2 hour meeting we will give you all the facts on your current situation and detail all your options for resolution.
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 Chelmsford offices. Contact McTear Williams & Wood today on 0800 331 7417