Expert Company LiquidatorsServing Havant Businesses

The cost varies depending on the complexity of your company's affairs, but most practitioners charge a fixed fee for a straightforward creditors' voluntary liquidation. You should always request a written quote before proceeding. Fees are often paid from the company's assets, and you may be able to negotiate a payment plan if needed.

Any limited company that is insolvent, meaning it cannot pay its debts as they fall due, may enter liquidation. This includes companies with significant liabilities, those facing legal action from creditors, or those where the directors have concluded that the business is no longer viable. A licensed insolvency practitioner will confirm eligibility during a free initial consultation.

The process typically begins with a meeting of directors to pass a resolution, followed by a creditors' meeting. The appointed liquidator then takes control of the company's assets, realises them, and distributes the proceeds to creditors according to legal priority. The company is eventually dissolved, and the liquidator's final report is filed.

A straightforward creditors' voluntary liquidation may conclude in six to nine months, but more complex cases can take longer. The duration depends on factors such as the number of assets, the complexity of the financial records, and whether any investigations are required. Your practitioner will provide a realistic timeline based on your specific circumstances.

Yes, alternatives include a company voluntary arrangement (CVA), administration, or informal restructuring with creditors. In some cases, a sale of the business as a going concern may be possible. A licensed practitioner will assess your situation and explain which options are viable, helping you avoid liquidation if a better outcome is achievable.

Employees are entitled to claim certain arrears of wages, holiday pay, and redundancy payments from the National Insurance Fund, but they must be made redundant by the liquidator. The liquidator will also provide the necessary documentation for employees to claim their statutory entitlements. This is a standard part of the process.

Yes, you can usually start a new company, but there are restrictions if you were a director of a company that went into insolvent liquidation. You may be subject to a disqualification order or undertaking, which can limit your involvement in company management. You should seek legal advice before doing so.

A liquidator is a licensed insolvency practitioner who takes control of the company's assets, realises them, and distributes the proceeds to creditors. They also investigate the conduct of directors, report to creditors, and ensure that the company is dissolved lawfully. Their duty is to act in the best interests of all creditors.

Look for a licensed insolvency practitioner with experience in your industry and a track record of successful liquidations. Check their credentials with the appropriate regulatory body, read client testimonials, and ask about their fees. A good liquidator will offer a free initial consultation and provide clear, honest advice.

You will need to provide the company's financial records, including bank statements, accounts, tax returns, and details of assets and liabilities. You should also list any creditors and employees. The liquidator will require full disclosure to assess the company's position and carry out their duties effectively.