The purpose of liquidation is to bring a company to a close, often within a relatively short space of time and is driven by many factors depending upon whether the company is solvent or insolvent.
For solvent companies the drivers can be the impending retirement of the owners, the reorganisation of a group or the completion of a specific business project.
Where a company is insolvent the factors are quite different and include: accumulated tax arrears outstanding to HMRC; pressure from suppliers such as trade accounts being put on 'stop' or legal proceedings chasing unpaid invoices; requests from the bank to reduce borrowings or possibly withdraw them completely; a sudden material bad debt; and the insolvency of a major customer.
Where closure of a business is the only option, our team of liquidation specialists understand how stressful this can be, and we will support you through the process to ensure that the affairs of the business are brought to an orderly conclusion.
We can assist with all types of liquidations and have many years’ experience covering all major industry sectors. Although, the business is a separate entity, we offer an empathetic approach as we recognise that the effects are felt by people.
We have significant experience in successfully delivering tailored solutions to businesses facing financial difficulties. We offer the full range of services and solutions that you would expect of a firm with such broad experience having worked on advisory assignments, informal and formal insolvency procedures. We firmly believe in encouraging businesses and their professional advisers to seek the earliest possible advice when problems arise that could result in financial difficulties. The sooner advice is sought, the wider the range of solutions available. Our liquidation specialists understand that your business is your lifeblood and we are passionate about helping you overcome challenges you face.
New clients will meet the team prior to appointment to enable us to gain a better understanding of the issues and concerns affecting you. As licensed insolvency practitioners, our team are able to manage the process for you and work towards improving the outcome for stakeholders.