Liquidation Advice

 

How to Liquidate your Company

When the time comes to Liquidate your company, there are steps you need to go through.  For some companies, not all of these will be necessary, but they need to be looked at all the same.

Step 1 – Tell us you want to Liquidate.  The first step is incedibly easy - call us and let us know you want to liquidate your company.

Step 2 – Pass us your company information.  We will need a few basic details to get the Liquidation process started.

Step 3 – We will now write to all your creditors, Typically, within 48 hours, we will write to all your creditors to let them know the situation. Most of the time they will leave you alone after this point.

Step 4 – Company assets are sold. If your company has any assets, they will be sold - to you if you want. If they can't be sold they will go forward to an auction at a later date.

Step 5 – Attend the Meeting of Creditors. The meeting of creditors is there to ratify the Liquidation of your company.  Most creditors will not bother coming, as they will be wasting a day’s worth of work. This will be your last meeting as Director of your company. 

That’s it – your company is now in Liquidation. From  start to finish this can take as little as 2 weeks to complete.

Make a fresh start in Business today - call 0800 411 57 03 now.

Next Steps... What's happens if I don't Liquidate What is the process for Voluntary Liquidation How do I prepare for Liquidation