Do you have enough capital to pay off all your debtors? If this is the case then a Member’s Voluntary Liquidation (MVL) is probably the ideal move to allow you to end your relationship with your company and realise your cash. If however you cannot meet your responsibilities then the alternative is a creditors' voluntary liquidation (CVL), which allows you to end your relationship with an insolvent business. It allows you to cease trading and your debts are paid out from the liquidation.
Sometimes difficult business circumstances lead to a CVL, such as a failure to win an order, insufficient cashflow, the loss of a customer or simple problems with bad debts. In any such situation a third party can be chosen to oversee your company liquidation.
At McTear Williams & Wood, we have handled a number of company liquidations for companies across a wide selection of business sectors, giving us the experience and ability to get the best result for you.
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 in Ipswich and we’ll assist you in understanding the full range of implications. Call us now on 0800 331 7417