Want to finish your relationship with your company and effectively cease trading? If so then you probably want no lose ends or personal liabilities. In such instances, you have two options. The first is a member’s voluntary liquidation, which can be enacted when you still have liquid assets and capital within a business. But what about when your business cannot meet the demands of your creditors, such as HMRC or even the responsibilities of payroll? This is when a company liquidation or creditors’ voluntary liquidation (or CVL) will allow you to dissolve the business and cease trading.
A CVL is inevitably the result of poor trading conditions and can often be the only option at the end of a difficult time. Thankfully company directors are permitted to appoint their own authority to shut down the business and sell off its assets to meet the demands of creditors on a case by case basis. To find out more please arrange an appointment to discuss your company liquidation at our Chelmsford offices where we can go through all the options available to you, allowing you to establish the optimum way forward for your business.
If you have been declared insolvent it is likely that your company’s value is rapidly depreciating. Through rapid action it is possible to ascertain the best price whilst still retaining your customers. McTear Williams & Wood is able to provide you with a quick resolution in such circumstances.
Why not find out how a CVL could work for your business? Arrange a free company liquidation consultation with McTear Williams & Wood at our office in Chelmsford and we’ll assist you in understanding the full range of implications. Call us now on 0800 331 7417
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