Sometimes it is clear that your business cannot proceed in its current state. Mounting debt and a failure to fulfil basic business operations could mean that the situation is terminal. With mounting pressure from your professional life impacting your personal life it might be time to look at the options.
One route out of the trouble and distress is to end your business using a creditors’ voluntary liquidation (CVL). This allows you to close down your business. Any assets that remain in the company are sold and the money raised is used to pay off your creditors. Following a CVL some directors elect to repurchase their business and launch it again as new venture under a different name. Over the years, McTear Williams & Wood has aided a number of clients through such a process, allowing them to get a fresh start.
If you want to know more about a creditors voluntary liquidation, then an expert at our office in East Anglia who’ll be able to fill you in on all the details of the process.
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 East Anglia, taking around 1 to 2 hours of your time.
Book your appointment with McTear Williams & Wood today - call now on 0800 331 7417