Professional Company LiquidatorsServing Pevensey with Expertise

A licensed insolvency practitioner takes control of the company, realises assets, agrees creditor claims, and distributes proceeds. They also investigate the conduct of directors and ensure that the liquidation follows legal procedures, providing a formal closure for the company.

Costs vary based on company complexity, asset values, and creditor numbers. Typically, fees are paid from company assets, but if assets are insufficient, directors may need to fund the process. A licensed practitioner will provide a fixed fee quote before you commit.

Yes, a company with no assets can still be liquidated through a creditors' voluntary liquidation, but the practitioner's fees must be covered, often by directors or a third party. Alternatively, a striking-off process may be cheaper if the company has no debts and meets certain criteria.

Compulsory liquidation is ordered by a court, usually after a creditor petitions for a winding-up order. Voluntary liquidation is initiated by shareholders through a resolution, either as a members' voluntary liquidation (solvent) or a creditors' voluntary liquidation (insolvent). The process and implications differ significantly.

A creditors' voluntary liquidation typically takes six to twelve months to complete, depending on asset realisation and creditor claims. Compulsory liquidation can take longer, especially if legal challenges arise. The practitioner will provide a timeline based on your specific circumstances.

Yes, alternatives include administration, company voluntary arrangements (CVAs), or informal arrangements with creditors. A licensed practitioner can assess whether your company can be rescued or whether a structured repayment plan is feasible, avoiding the finality of liquidation.

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 guidance and necessary documentation to support employee claims.

Yes, you can start a new company after liquidation, 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 restrict your involvement in company management for a period.

Signs include persistent cash flow problems, inability to pay creditors on time, mounting debts, statutory demands, or winding-up petitions. If you are trading while insolvent, you risk wrongful trading claims. Early advice from a licensed professional is essential to avoid personal liability.

Choose a licensed insolvency practitioner with experience in your sector and a transparent fee structure. Check their authorisation with a recognised professional body, read client reviews, and ensure they communicate clearly. AccountingFirms can connect you with vetted specialists who meet these criteria.