No one wants their company to become insolvent. It can be a difficult time and there are often problems paying back trusted suppliers and contractors. Whether this situation has been caused by bad debt or changes within your industry it can often leave directors wondering where to turn next.
Even in this seemingly adverse situation you may still have options. A creditors’ voluntary liquidation allows you to formally close down your company under the direction of a registered insolvency practitioner. All your remaining business assets are sold and the proceeds are used to pay off your creditors.
Under a creditors’ voluntary liquidation you are permitted under UK law to select your own authority to oversee the process. McTear Williams & Wood is ideally placed to help you with a considerable experience supporting companies through this difficult time.
To find out all the facts why not book a meeting to discuss a potential company liquidation at our offices near King’s Lynn. All our advice is completely confidential and we will be able to answer all your questions regarding personal liabilities and company debt.
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 offices near King's Lynn and we’ll assist you in understanding the full range of implications. Call us now on 0800 331 7417
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