Expert Company LiquidatorsServing Merton Businesses

A company liquidator is a licensed insolvency practitioner who manages the closure of a company. They realise assets, settle creditor claims, and ensure legal formalities are followed. Their role is to act in the interests of creditors while providing a structured process for directors.

Costs vary based on company complexity and asset value. Typically, fees range from a few thousand pounds for simple cases to more for complex ones. A licensed practitioner will provide a fixed fee quote before you commit, ensuring no hidden surprises.

Yes, you can liquidate a company with no assets. This is often called a 'no-asset liquidation' or 'creditors' voluntary liquidation' with minimal fees. The liquidator will still need to file statutory documents and investigate the company's affairs, but costs are reduced.

Solvent liquidation, or members' voluntary liquidation, is used when a company can pay its debts. Insolvent liquidation, or creditors' voluntary liquidation, is for companies that cannot. The processes differ in terms of documentation, creditor involvement, and director duties.

A simple creditors' voluntary liquidation can complete in three to six months. More complex cases with asset sales or disputes may take longer. The liquidator provides a timeline at the outset, but delays can occur if additional investigations are needed.

Yes, alternatives include administration, company voluntary arrangement, or informal restructuring. A licensed practitioner can assess your situation and recommend the most suitable route, potentially allowing the business to continue trading or achieve a better return for creditors.

Directors must cooperate with the liquidator, provide all company records, and avoid wrongful trading. They must also disclose any preferences or transactions at an undervalue. Failure to comply can lead to personal liability or disqualification.

Yes, directors can start a new company after liquidation, but they may face restrictions if they are disqualified. In most cases, a director of a company that went into creditors' voluntary liquidation can trade again immediately, provided they follow insolvency law.

You will need to provide financial statements, tax returns, bank statements, and details of assets and liabilities. The liquidator also requires a list of creditors and any relevant contracts. Full disclosure is essential for a smooth process.

Employees are entitled to claim unpaid wages, holiday pay, and redundancy from the National Insurance Fund if the company is insolvent. The liquidator will guide employees through the claims process and ensure they receive their statutory entitlements.