Professional Company LiquidatorsServing Buckinghamshire Businesses

A company liquidator is a licensed insolvency practitioner who takes control of a company that is being wound up. They realise assets, settle debts with creditors in the correct order, and investigate the conduct of directors. Once the process is complete, the company is formally dissolved and removed from the register.

The cost varies depending on the size and complexity of the company. Typically, fees range from a few thousand pounds for a simple creditors' voluntary liquidation to higher amounts for complex cases. Always obtain a fixed-fee quote before proceeding, and confirm what is included to avoid unexpected charges.

Voluntary liquidation is initiated by the company's directors or shareholders, usually through a creditors' voluntary liquidation when the company is insolvent. Compulsory liquidation is forced by a court order, often after a creditor presents a winding-up petition. Both lead to the same outcome, but the process and control differ.

A straightforward creditors' voluntary liquidation may be completed in six to twelve months. More complex cases involving asset realisation, legal disputes, or director investigations can take several years. The liquidator provides a timeline at the outset and keeps creditors informed of progress throughout.

You can continue trading, but you must not incur credit if you know the company is insolvent. Doing so could lead to personal liability for wrongful trading. Seek advice from a licensed professional immediately to understand your options and avoid further financial damage.

Alternatives include a company voluntary arrangement (CVA) to repay debts over time, administration to give breathing space while restructuring, or informal arrangements with creditors. Each option has advantages and drawbacks, and a licensed insolvency practitioner can help you decide which is most suitable for your situation.

In most cases, directors are not personally liable for company debts if they have acted properly. However, if you have given personal guarantees, taken loans from the company, or engaged in wrongful trading, you may be pursued for repayment. A liquidator will examine your conduct and report any issues.

Employees are made redundant when a company goes into liquidation. They may be entitled to claim statutory redundancy pay, unpaid wages, holiday pay, and pension contributions from the National Insurance Fund. The liquidator provides the necessary forms and guidance to help employees make claims.

Yes, you can start a new company after liquidation, but there are restrictions. If you have been a director of a company that went into insolvent liquidation, you may be subject to a disqualification order or undertaking. You must also avoid using a similar company name to the liquidated one within five years unless certain conditions are met.

Look for a licensed insolvency practitioner who is a member of a recognised professional body such as the Insolvency Practitioners Association or the Association of Business Recovery Professionals. Ask for a fixed fee, check their experience with companies of your size, and ensure they offer a personal service.