Winding up petition

Act now and save your business. Are your creditors trying to close your business? McTear Williams & Wood can help you get your business and finances back on track. Discover all the options available to you and call us now.

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Received a winding up petition?

If you have been served with a winding up petition this can be extremely distressing.  However, you are not alone, we have helped dozens of businesses recover from this situation and return to full solvency.  

A creditor can make an application to the courts to wind up your company if they are experiencing problems recovering debts of £750 or more.  HMRC is often one of the most likely creditors and it is important to act quickly as the consequences of a winding up order start from the moment it is filed in the Court and this could potentially impact any payments made to your suppliers and creditors.

How can we help?

Our team of expert advisors can help you deal with the winding up petition. This includes the following services:

  • Financial health check – is your business still viable or is it better to cease trading? Our experts help you examine your business and provide an objective assessment.
  • Negotiate with the petitioning creditor either directly or behind the scenes, to start providing a resolution to the most immediate problem.
  • Adjourn the petition hearing to delay credit agencies from receiving details of the petition, as notication could have a negative impact on your ability to do further business.
  • Fight the petition and help pay your creditors.  If your business is still viable our experts may be able to demonstrate to the Courts that you can pay your creditors.
  • Apply for a validation order so your company can continue trading during the winding up petition without potentially damaging your business relationships.
Our experts are able to help you maintain business critical cashflow functions by sitting alongside you in negotiations with suppliers, HMRC and banks and even providing interim management solutions.
 

Why act now?

If you fail to deal with the winding up petition a winding up order will be made and control of your company will pass to the Official Receiver who will liquidate your company’s assets and may seek to disqualify directors from acting in the future. Call  us whilst you still have options.

Hayley Watson

Director

Norwich office contact details:

Cambridge office contact details:

Hayley started her career working at McTear Williams & Wood in 2005 and is a Licensed Insolvency Practitioner advising companies and individuals experiencing financial difficulties and works with a variety of stakeholders to establish and implement the best strategy for individuals and companies experiencing financial difficulties.

Hayley acts as an Insolvency Practitioner in all forms of corporate insolvency including creditors’ voluntary liquidation, compulsory liquidations, solvent members’ liquidations and company voluntary arrangements as well as advising individuals and acts as an insolvency practitioner for individual voluntary arrangements and bankruptcies.

Hayley qualified as a Licensed Insolvency Practitioner in 2019 and was appointed Director in March 2024 and she is currently Chair of R3 Eastern Region committe and has over 19 years of experience in business rescue and insolvency.

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