Professional Company Liquidatorsin Buckley, Here to Help

The cost varies depending on the complexity of the liquidation. For a straightforward Creditors' Voluntary Liquidation, fees may range from £4,000 to £8,000 plus VAT, but this depends on asset realisation and creditor involvement. A licensed insolvency practitioner will provide a clear fee structure before you commit.

Any insolvent company whose directors believe it cannot pay its debts as they fall due can propose a Creditors' Voluntary Liquidation. The directors must swear a statement of affairs and convene a creditors' meeting. This process is suitable for companies with no realistic prospect of recovery.

The initial liquidation meeting typically occurs within a few weeks of instruction. Once the liquidator is appointed, the process of realising assets and distributing funds can take between six and twelve months, depending on the complexity of the company's affairs and the cooperation of its directors.

Yes, in some cases. Options such as a Company Voluntary Arrangement (CVA) or an informal payment plan may allow the company to continue trading. A licensed insolvency practitioner can assess your financial position and advise whether a formal arrangement is viable, or whether liquidation is the only realistic solution.

Alternatives include a Company Voluntary Arrangement (CVA), administration, or a scheme of arrangement. Each has distinct legal implications and outcomes. Administration provides a moratorium from creditors, while a CVA allows you to repay debts over time. Your specific circumstances will determine which route is most appropriate.

Employees are made redundant when a company enters liquidation. They may be entitled to claim statutory redundancy pay, unpaid wages, holiday pay, and other arrears from the National Insurance Fund. The liquidator will provide the necessary forms and guidance to ensure employees receive their entitlements.

Yes, in most cases, but there are restrictions. If the company was placed into compulsory liquidation, the director may be banned for a period. In a Creditors' Voluntary Liquidation, there is no automatic ban, but directors must not act in a way that breaches their duties. Seeking professional advice is essential.

An insolvency practitioner acts as the liquidator, taking control of the company's assets, investigating its affairs, and distributing funds to creditors. They also ensure compliance with statutory requirements and report any wrongful trading or director misconduct to the relevant authorities.

Yes, if the company is profitable but facing cash flow issues, options such as invoice financing, asset refinancing, or a Company Voluntary Arrangement may help. A licensed insolvency practitioner can assess your business model and advise on the most suitable solution to avoid unnecessary liquidation.

The first step is to seek professional advice from a licensed insolvency practitioner. They will review your financial position, explain the implications of liquidation, and help you decide whether to proceed. You should also gather up-to-date financial records and a list of creditors to facilitate the process.