Professional Company LiquidatorsServing Pean Hill

A company liquidator is a licensed insolvency practitioner who winds down a company's affairs, sells assets, settles creditor claims, and distributes any remaining funds. They also investigate director conduct and ensure the process follows insolvency law.

Costs vary based on complexity, asset value, and creditor numbers. For a simple creditors' voluntary liquidation, fees may range from £3,000 to £7,000, but always request a fixed-fee quote. For compulsory liquidation, costs are higher and often paid from realisations.

Yes, but funding is required to pay the liquidator's fees. Options include director loans, asset sales, or a creditor-funded process. If no funds exist, a liquidator may decline the case, and you might consider a strike-off instead.

A creditors' voluntary liquidation typically takes 6 to 12 months to conclude, depending on asset realisation and claim resolution. Compulsory liquidation can take longer. The liquidator provides regular updates throughout the process.

Solvent liquidation is used when a company can pay its debts, often for restructuring or shareholder exit. Insolvent liquidation applies when debts cannot be paid. The process and outcomes differ significantly, so professional advice is essential.

No, once liquidation begins, the company ceases trading. Directors lose control, and the liquidator takes over. If you wish to continue trading, explore alternatives like administration or a company voluntary arrangement before deciding.

Alternatives include a company voluntary arrangement (CVA) to repay debts over time, administration to rescue the business as a going concern, or informal negotiation with creditors. Each has different legal and financial implications.

Employees are made redundant once liquidation begins. They may claim statutory redundancy pay, notice pay, and unpaid wages from the National Insurance Fund. The liquidator provides claims forms and guidance to affected staff.

Generally, no, unless you have given personal guarantees, or wrongful or fraudulent trading is proven. Directors can be held liable for debts incurred after the point they knew insolvency was inevitable. Professional advice helps mitigate this risk.

Look for a licensed insolvency practitioner with experience in your sector. Check their credentials with a recognised regulatory body, ask for fixed-fee quotes, and read reviews. Speak with several professionals before making a decision.