Expert Company LiquidatorsServing Crowborough Directly

A company liquidator is a licensed insolvency professional who manages the closure of a company. They sell assets, settle debts with creditors, and distribute any remaining funds to shareholders. They also ensure legal compliance and investigate director conduct, providing a structured end to the business.

Costs vary based on company size and complexity. Typically, a simple creditors' voluntary liquidation may cost between £4,000 and £8,000, plus VAT and disbursements. However, you should obtain a fixed-fee quote from a licensed practitioner before proceeding, as this ensures no hidden surprises.

Voluntary liquidation is initiated by directors or shareholders, often through a creditors' voluntary liquidation (CVL) when the company is insolvent. Compulsory liquidation is forced by a court order, usually from a creditor petition. Each process has different implications for directors, so professional advice is essential.

A typical creditors' voluntary liquidation can take between 6 and 12 months to complete, depending on asset realisation and creditor claims. However, the liquidator's appointment is immediate, and the company ceases trading on that day. Compulsory liquidation may take longer due to court procedures.

Yes, you can. If the company has no assets, a licensed insolvency practitioner can still act as liquidator, but fees may be covered by director contributions or a third-party fund. You must also consider whether a strike-off is more appropriate, but that route does not deal with director misconduct issues.

Employees are made redundant on the day the liquidator is appointed. They may claim statutory redundancy pay, unpaid wages, and holiday pay from the National Insurance Fund. The liquidator provides them with the necessary forms and guidance to make these claims promptly.

Yes, alternatives include company voluntary arrangements (CVAs), administration, or informal creditor negotiations. If the business is viable but has cash flow problems, a CVA can restructure debts while allowing trading to continue. A licensed professional can assess which route is best for your situation.

No, once liquidation begins, the company must cease trading immediately. Continuing to trade during insolvency can lead to wrongful trading claims against directors. The liquidator takes control of the company's affairs, so you cannot make further transactions or payments without their approval.

Directors must cooperate fully with the liquidator, provide all company records and accounts, and disclose any transactions that may be preferential or undervalued. Failure to comply can result in personal liability or disqualification. You should also avoid taking any action that could be seen as hiding assets.

You should select a licensed insolvency practitioner who is authorised by a recognised professional body, such as the Insolvency Practitioners Association. Look for someone with experience in your industry and who offers a fixed fee. Always ask for references and check their regulatory status before signing any agreement.