Expert Company Liquidators inBaldock for Your Business

A licensed insolvency practitioner takes control of the company, realises its assets, settles debts with creditors in the correct order, and then formally dissolves the company. They also investigate the conduct of directors and report to the relevant authorities if any misconduct is found.

Costs vary depending on the size and complexity of the company. For a Creditors' Voluntary Liquidation, fees typically range from a few thousand pounds. The liquidator's fee is paid from company assets, but you should always obtain a clear written quotation before proceeding.

Yes, a solvent company can be wound up voluntarily through a Members' Voluntary Liquidation. This is often used when owners retire or wish to extract capital tax-efficiently. You will need a declaration of solvency from the directors, and the process usually completes within a year.

For an insolvent company, a Creditors' Voluntary Liquidation typically completes within 12 to 18 months. A solvent liquidation may finish sooner, often within 6 to 12 months. The exact timeline depends on asset realisation and the complexity of creditor claims.

No. Once liquidation begins, the liquidator takes control and trading must cease. However, you may start a new business after the liquidation is complete, subject to certain restrictions. You should seek advice on any restrictions on re-using the same company name.

Administration is a rescue procedure that aims to save the company as a going concern, whereas liquidation is the final winding-up process. Administration provides a moratorium against creditor action, giving time to restructure. Liquidation is used when rescue is not possible or has failed.

You must cooperate fully with the liquidator, provide all company books and records, and disclose all assets and liabilities. You must also answer questions about the company's affairs. Failure to cooperate can lead to personal liability or disqualification as a director.

Yes, you may propose a Company Voluntary Arrangement (CVA) to repay debts over time, or negotiate informal payment plans. A licensed insolvency practitioner can help you assess whether such alternatives are feasible before you commit to liquidation.

Employees are made redundant when liquidation occurs. They may be entitled to claim redundancy pay, unpaid wages, and holiday pay from the National Insurance Fund, which acts as a safety net. The liquidator will provide the necessary claims forms and guidance.

Usually no, as limited liability protects directors. However, you may become personally liable if you have given personal guarantees, traded wrongfully, or misused company funds. The liquidator can pursue you for such actions, so it is vital to seek professional advice early.