Most businesses are forced to navigate stormy waters at some point during their travels around the corporate world. However, when the good times vastly outweigh the bad it may be time to consider all the options, especially if the pressure is starting to impact your personal life.
One option that could help your life return to a zone of stability is a creditors' voluntary liquidation (or 'CVL'). This measure is designed to effectively liquidate your company and end your business obligations both as a company and a director.
The way a CVL works is very simple. A liquidator is appointed to take charge of your company’s remaining assets. These are then sold off to raise capital, which in turn is used to satisfy the demands of your creditors to the maximum extent possible.
There is an option that allows company directors to buy back their company during a CVL, allowing you to effectively relaunch as a completely new entity. McTear Williams & Wood has supported several companies through this process, allowing them to find new calmer waters as a once-again profitable venture.
Want to know more? Book an appointment to discuss a creditors’ voluntary liquidation at our Peterborough offices and we can fill you in on all the facts.
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 Peterborough, taking around 1 to 2 hours of your time. Book your appointment with McTear Williams & Wood today - call now on 0800 331 7417
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