If you have decided to close down your business due to cashflow problems this process can be completed safely and effectively with a company liquidation. Your insolvent business is dissolved and the sale of any assets is used to satisfy the demands of your creditors.
This process, which needs to be overseen by an official insolvency practitioner formally ends the lifespan of your business. Once shareholder and director consent has been achieved control of the company is passed to this individual who begins the process of compiling and schedule of all assets and then conducting the final sale.
However there is also the situation where directors are permitted under UK law to purchase key company assets as a third party, which can then be used to relaunch the business as a new entity. McTear Williams & Wood has helped a number of business successfully through this process saving jobs and client relationships.
Act quickly to secure the best result. Contact one of our senior team and discuss a potential company liquidation at our offices near Bournemouth. With all the facts you’ll be able to make the best decision for your company, workforce and future.
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Administration Order in Bournemouth
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Company Insolvency Check in Bournemouth
Company Voluntary Arrangement Bournemouth
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