Expert Company LiquidatorsServing Bridgegate Directly

A licensed liquidator takes control of your company's assets, realises them for the benefit of creditors, investigates the company's affairs, and then dissolves the company. They handle all legal formalities, communicate with creditors, and ensure that the closure is conducted in a lawful and orderly manner, giving you a clean exit.

Costs vary depending on the size and complexity of the company. Typically, fees are based on the value of assets realised or on a time basis. A licensed professional will give you a clear fee estimate before you proceed. Always ask for a written quotation and check what is included, such as statutory advertising and filing fees.

You are eligible if your company is insolvent, meaning it cannot pay its debts as they fall due. The directors must pass a resolution to wind up, and then creditors meet to confirm the appointment of the liquidator. This process is suitable for companies with significant debts and no realistic prospect of rescue.

A straightforward creditors' voluntary liquidation typically takes between six and twelve months to complete. However, complex cases with numerous assets or legal disputes can take longer. The liquidator must finalise all asset sales, agree creditor claims, and submit final accounts to Companies House before the company is formally dissolved.

Once a liquidator is appointed, they take control of the company and your powers as director cease. You cannot continue trading or make decisions about the company's assets. However, before the liquidation starts, you can trade to preserve value, but you must seek professional advice to avoid wrongful trading claims.

Voluntary liquidation is initiated by the directors or shareholders, usually through a creditors' voluntary liquidation when the company is insolvent. Compulsory liquidation is forced by a creditor through a court order, often following a winding-up petition. The process and control differ, so you should understand which applies to your situation.

Yes, alternatives include a company voluntary arrangement (CVA) to repay debts over time, administration to protect the business from creditors while a rescue is attempted, or a simple strike-off if the company is solvent and no longer needed. Each option has different implications, so professional advice is essential.

When a liquidator is appointed, employees are automatically dismissed. They may be able to claim redundancy pay and other entitlements from the National Insurance Fund, but the liquidator will guide them through the process. You should provide employees with clear information about their rights and the claims procedure.

In most cases, you do not need to attend in person. The meeting can be held virtually or by proxy, and the liquidator will handle the formalities. However, you may be asked to provide information or answer questions about the company's affairs. Your cooperation is essential for a smooth process.

You must provide all company records, including financial statements, bank statements, tax returns, contracts, and details of assets and liabilities. You should also provide a statement of affairs, which lists what the company owns and owes. The liquidator will review these documents to identify any issues and to carry out their duties effectively.