Professional Company LiquidatorsServing Evesham Businesses

The cost varies depending on the complexity of your company's affairs. Typically, fees are based on time spent or a fixed fee agreed upfront. You should ask for a clear quote during the initial consultation, as costs will be paid from company assets where available.

Any limited company that is insolvent or cannot pay its debts as they fall due may be eligible. This includes companies with significant liabilities, unpaid statutory demands, or those facing winding-up petitions. A licensed insolvency practitioner will confirm eligibility after reviewing your financial position.

A straightforward creditors' voluntary liquidation can often be completed within six to twelve months. However, the timeline depends on the complexity of asset realisation and creditor claims. Your liquidator will provide a realistic estimate at the outset.

Yes, a solvent company can be closed through a members' voluntary liquidation, which is a formal process to distribute assets and dissolve the company. This is often used for companies that have achieved their purpose or are no longer needed.

Alternatives include a company voluntary arrangement to repay debts over time, administration to rescue the business, or informal negotiation with creditors. An insolvency practitioner can assess which option is most suitable for your specific circumstances.

Employees are made redundant when the company enters liquidation. They may be entitled to claim redundancy pay, unpaid wages, and holiday pay from the National Insurance Fund. The liquidator will provide the necessary forms and guidance to affected staff.

In most cases, no. Limited liability protects directors from personal responsibility for company debts. However, personal liability may arise if you have given personal guarantees, or if wrongful trading or fraudulent activity is proven.

The first step is to contact a licensed insolvency practitioner for a confidential consultation. They will review your finances, explain the options, and if liquidation is appropriate, convene a meeting of shareholders and creditors to approve the appointment.

You may continue trading in the short term, but you must act in the best interests of creditors. Trading while insolvent without a clear plan could lead to personal liability for wrongful trading. Seek professional advice immediately to avoid risks.

You will need to provide financial records, including accounts, bank statements, debtor and creditor lists, asset details, and any relevant contracts. The liquidator will also require details of any director loans or transactions with connected parties.