Company Liquidators in Glamorganfor Glamorgan

A licensed insolvency practitioner acts as the liquidator, taking control of the company's affairs, realising assets, agreeing creditor claims, and distributing any funds in a statutory order. They also investigate the directors' conduct and report to the relevant authorities.

Costs vary based on the company's size and complexity. Typically, fees range from £4,000 to £8,000 plus VAT, but a licensed practitioner will provide a fixed fee quote after reviewing your circumstances. Creditors' voluntary liquidation fees are often paid from company assets.

Compulsory liquidation is forced by a court order, usually following a creditor's petition. Voluntary liquidation is initiated by the directors and shareholders, often through a creditors' voluntary liquidation (CVL). The latter is more common and allows for a more orderly process.

Yes, it is possible to liquidate a company with no assets, but you must consider how to fund the liquidation costs. Directors may need to contribute personally or seek a director's loan to cover fees. A licensed practitioner can discuss options such as a CVL or striking off.

A typical creditors' voluntary liquidation takes around six to twelve months to complete, depending on asset realisation and creditor claims. Simple cases may conclude sooner, while complex investigations or disputes can extend the timeline.

Employees are made redundant when the company enters liquidation. They may claim statutory redundancy pay, unpaid wages, and holiday pay from the National Insurance Fund. The liquidator provides the necessary documentation for these claims.

Once liquidation begins, the liquidator takes control, and trading typically ceases immediately. However, the liquidator may continue trading for a short period to complete work in progress or sell assets as a going concern, but directors no longer have authority.

Alternatives include administration, company voluntary arrangement (CVA), or informal restructuring. A licensed practitioner can assess whether a turnaround plan might save the business, or whether closing via a members' voluntary liquidation is appropriate if solvent.

Directors are generally not personally liable for company debts unless they have given personal guarantees, or wrongful trading or misfeasance is proven. A liquidator investigates director conduct and may pursue claims if assets were misused.

Select a practitioner who is licensed by a recognised professional body, such as the Insolvency Practitioners Association. Look for local experience, transparent fee structures, and a clear communication style. Speak with a specialist listed on AccountingFirms to ensure you receive regulated advice.