Get the facts on a company liquidation in Peterborough

If your business is struggling and you have run out of capital then you can effectively shut down your company with a creditors' voluntary liquidation

Find out how you can avoid personal liability

Call us now 0800 331 7417

There are two methods of shutting down a company. The first is when you still have assets and liquidity in the company that exceed your debts and liabilities. Using a members’ voluntary liquidation will allow you to cease trading and extract your cash in a tax efficient manner. 

The alternative situation is where your business’ assets will not meet your liabilities. In such circumstances, your company is deemed insolvent and you are required to shut down operations with a creditors’ voluntary arrangement (CVL). 

Regardless of the event that triggered difficulties within your business – whether this can be attributed to customers failing to pay their invoices or changes in the business, you may appoint your own administrator. This authority is responsible for selling off your assets to meet your creditors’ demands. 

If you are considering going ahead with a CVL then please contact one of our expert advisors. We can set up an appointment to discuss your company liquidation at our Peterborough offices and discuss how to achieve the best outcome for you.

How can we help you?

  • Free initial appointment - in the first instance we provide you with a consultation session to go through all the implications and obligations necessary for a company liquidation.
  • Review options for business recovery - even if you are insolvent, there may still be routes by which you can continue trading. We are able to help you understand how to close down your company and buy it back.
  • Calling a creditors meeting - one of the key steps in implementing a CVL is setting up a meeting with your business’s creditors in order to pass the resolution to allow the liquidation and to confirm the choice of liquidator.
  • Company liquidation - during the liquidation process McTear Williams & Wood will manage the sale of your assets, handle any legal matters and distribute funds to the creditors amongst other key responsibilities.

Why should you act now?

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 Peterborough and we’ll assist you in understanding the full range of implications.  Call us now on 0800 331 7417

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