Even though many businesses experience difficulties at some point during their lifespan, when the pressures of creditors demands start to impact your personal life it can seem like time to review your options. One choice that gives you full control over the situation is a creditor’s voluntary liquidation (CVL), which allows you to close down your business and put an end to your professional obligations.
The CVL allows insolvent businesses to close down and liquidate their assets. All proceeds raised are then used to pay off the creditors of the business. No matter what event triggered the need for a CVL, you are allowed to appoint your own liquidators to handle the process. In some circumstances directors choose to purchase their old company and relaunch it again as a new business entity. McTear Williams & Wood has aided a number of companies through this process, helping them start again on the road to success.
Your next step should be to meet with us and discuss a potential creditors’ voluntary liquidation at our office near Colchester. We’ll be able to talk you through everything that’s needed.
If you are looking to sell your business it is advisable to act as quickly as possible to ensure that you achieve maximum value. Don’t run your company into the ground when suppliers and customers lose confidence in your ability to deliver, which could impact your long term reputation.
McTear Williams & Wood can give you a free consultation which will cover all your options including a company voluntary liquidation in Colchester, taking around 1 to 2 hours of your time. Book your appointment with McTear Williams & Wood today - call now on 0800 331 7417