Professional Company Liquidatorsin Bourne, Guiding You

Costs vary based on complexity, but a standard creditors' voluntary liquidation (CVL) might range from £4,000 to £8,000 plus VAT and disbursements. Your liquidator will provide a fixed fee quote after assessing your company's affairs, ensuring no hidden surprises.

Eligibility generally requires that your company is insolvent, meaning it cannot pay its debts as they fall due. A licensed insolvency practitioner will review your balance sheet and cash flow to confirm whether liquidation is the appropriate route, or if an alternative such as administration might be more suitable.

The process begins with a meeting of directors to pass a resolution for voluntary liquidation. Then, creditors are notified and a meeting is held to confirm the appointment of a licensed insolvency practitioner. The liquidator then takes control of assets, realises them, and distributes proceeds to creditors.

A straightforward liquidation might conclude within six to twelve months, but complex cases with asset realisation or legal disputes can extend longer. The liquidator must file final accounts with Companies House, and the process concludes once all assets are distributed and the company is dissolved.

Yes, alternatives include a company voluntary arrangement (CVA) to repay debts over time, administration to restructure, or a formal rescue via a pre-pack sale. A licensed insolvency practitioner can assess which option best protects creditor interests and preserves business value where possible.

Employees are made redundant once the liquidator is appointed, and they may claim statutory redundancy pay, unpaid wages, and holiday pay from the National Insurance Fund. The liquidator provides each employee with a claim form and guidance on how to submit it.

Yes, you can. If the company has no assets to cover liquidation costs, a director may apply for a creditors' voluntary liquidation with a statement of affairs showing no assets. Alternatively, a compulsory liquidation via court might be possible, but the costs may be prohibitive without funding.

Directors must cooperate fully with the liquidator, provide all company records and accounts, and disclose any transactions that may be voidable. They must also avoid wrongful trading, which means continuing to trade while knowing the company is insolvent, as this can lead to personal liability.

Generally, no, because a limited company is a separate legal entity. However, personal liability can arise if you have given personal guarantees, acted fraudulently, or engaged in wrongful trading. The liquidator will investigate and may seek a court order if misconduct is found.

Look for a licensed insolvency practitioner who is a member of a recognised professional body, such as the IPA or R3. Check their experience with similar cases, read client testimonials, and ensure they offer a clear fee structure. A local practitioner who understands Bourne's business community can be advantageous.