Is your business struggling or distressed? Whether it is due to external circumstances or changes in the market, when your business is insolvent you have a choice. If you decide to go through with a company bankruptcy then a company voluntary liquidation is your best option, as this allows you to cease trading without suffering the personal liability associated with a strike off.
When you go through with this procedure, you are allowed by the courts to appoint your own liquidator to handle the final sale of all your remaining assets. The resulting funds are used to satisfy the final demands of your creditors and close your company.
It is not unknown for directors to purchase back their business during this final sale and relaunch as a new entity and regain profitability. McTear Williams & Wood has helped a number of companies through this process and thus has an unrivalled ability to guide you in a similar manner.
If you would like to know more about the various options available to you, then please call and set up a meeting to discuss your company bankruptcy at our Milton Keynes offices. During a simple 1-2 hour meeting we can thoroughly review your current situation and offer suggestions toward the best 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 Milton Keynes offices. Contact McTear Williams & Wood today on 0800 331 7417