Liquidating a business is a simple process, especially for smaller businesses. Listed below is the best procedure for liquidating a business.
Step 1: Conduct an audit: This is the first step that you need to take in liquidating a business. Get an audited financial statement as you need to show the buyer that you were [...]
Monthly Archives: December 2009
The right procedure for liquidating a business
December 30, 2009 – 5:18 pm
The procedure and consequences of liquidating a business
December 28, 2009 – 5:17 pm
Liquidating a business is a relatively simple process provided that you take the right steps. Below is the process that most businesses follow when going through liquidation.
1) A liquidator: The first step in liquidation is the appointment of a liquidator. Usually it is company decision that is passed by the share holders of the company. [...]
Business liquidation – a great way of repaying your debts
December 27, 2009 – 5:16 pm
The term liquidation means the procedure in which the real assets of a business are turned into cash. This action takes place in order to clear debts of a business. Mainly liquidation of a business is categorised into two types such as: compulsory and voluntary liquidation.
Here is some information about the two types of liquidation:
Compulsory [...]
What is meant by voluntary liquidation?
December 25, 2009 – 6:22 pm
To get into liquidation of assets, it is necessary to understand what voluntary liquidation means. This term is not to be confused with involuntary liquidation, which is when an external authority orders a company to liquidate its assets.
Voluntary liquidation is when a company willingly decides to sell its assets in order to cover the [...]
The importance of a good exit strategy for business liquidation
December 23, 2009 – 9:21 am
The present nature of business means you’re likely to either grow your business or have to shut down. If you want to get out of a business but aren’t able to free yourself from it internally, then business liquidation may be the best option.
Liquidation is the process of shutting down a company. The trading of [...]
Save your failing company with pre pack administration
December 21, 2009 – 5:15 pm
Many companies that are facing financial problems have found that pre pack administration is one of the most effective ways of overcoming them. During the final quarter of 2008, thousands of companies took advice from an insolvency practitioner and opted for a pre-pack administration solution. This is a type of company liquidation that allows a [...]
Business liquidation- getting revenue from a failing business
December 19, 2009 – 5:14 pm
Over the past couple of years, it has become quite common to hear of businesses failing. Although the majority of recent cases has been due to the economic downturn, there are many other factors that can cause a business to fail. Company owners and managers are often left with only one suitable option- to close [...]
Things you should know about creditor’s voluntary liquidation
December 18, 2009 – 9:00 am
Creditor’s voluntary liquidation is similar to personal bankruptcy. However, it exclusively deals with the insolvent businesses. When a business can no longer hold its present market share or is no longer viable, it is common for the company’s directors to opt to cease the business whilst liquidating their assets. This is generally carried out in [...]
Steps for liquidating a business
December 16, 2009 – 5:37 pm
Liquidation is a process through which a business is brought to an end. In this process, all the company assets are sold off and the earnings are then used to pay off the creditors. Liquidation is also often called dissolution or winding up a business. Usually, liquidation is a great solution for businesses that are [...]
A quick look at liquidating a business
December 14, 2009 – 9:00 am
If you are intending on liquidating a business but don’t know how to go about it, here is a simple and quick guide that can help to point you in the right direction.
1) Evaluate your assets: The first step in liquidating a business is evaluating your assets. You should value your furniture, fixtures and equipment. Basically, [...]