Liquidators are people you will (hopefully) only need to consult with once in your business life, so finding the right one can be very daunting. There are all sorts of Liquidation companies around, some offer a mass volume service with very little thought for the individual companies involved. Some offer a highly personalised service, designed specifically around what your company needs. The first element of choosing your Liquidator is to think about how much service you will need.
Level of service.
A quick rule of thumb is that the more problems you have at the moment, the higher level of service you will need. Ask yourself:
- Have we had any legal action against the company?
- How up to date are our books?
- Do we have assets to deal with?
- Are there any situations that might take a little ‘negotiating’?
- Do we want to be kept regularly informed?
All these things take a little time, and so you will need a higher level of service. What you don’t want is to start the liquidation process and then find your liquidator will not help you on an outstanding matter – leaving you to deal with the hassle yourself.
Gut Instincts
In real terms you won’t be spending a great deal of time with your Liquidator. This means that you do not get a lot of time to form any sort of association. Given the time-limited nature of the business relationship, it is usually best to go with your gut instincts regarding their character.
If you don’t feel comfortable talking to them from the outset, it doesn’t bode well for later on.
Understanding
Your position is unique, I can quite categorically say that no other company is in exactly the same situation as you are. In order that the Liquidation process is as effective as possible for you and your company, you need a Liquidator to understand your situation, and keep one eye on where you are planning to go on a business level.