Professional Company LiquidatorsServing Worcs Businesses

A licensed insolvency practitioner acts as liquidator, taking control of company assets, realising them for creditors, investigating director conduct, and distributing funds according to legal priority. They also ensure statutory filings are completed and the company is formally dissolved at the end of the process.

Costs vary based on company size, asset complexity, and creditor numbers. Typically, fees range from £4,000 to £10,000 plus VAT for a straightforward creditors' voluntary liquidation. A licensed professional provides a fixed fee quote after an initial assessment, so you know the cost upfront.

You are eligible if your company is solvent, meaning it can pay all debts in full within a set period, usually 12 months. Directors must make a statutory declaration of solvency. A licensed insolvency practitioner then manages the process to distribute assets and dissolve the company.

A creditors' voluntary liquidation typically takes six to twelve months to complete, depending on asset realisation and claims. A members' voluntary liquidation can be faster, often three to six months. Complex cases with legal disputes or uncooperative directors may take longer.

Alternatives include administration, company voluntary arrangement, or informal restructuring. For solvent companies, striking off is cheaper but only if no creditor claims exist. A licensed professional can assess your situation and recommend the most suitable route to avoid unnecessary liquidation.

Yes, you can. If the company has no assets and cannot pay debts, a creditors' voluntary liquidation is still possible, often at a reduced fee. Alternatively, a director may apply for compulsory liquidation, but that is court-driven and more expensive. Professional advice is essential.

Employees are made redundant once liquidation begins. They become preferential creditors for unpaid wages and holiday pay, but only up to statutory limits. The liquidator handles redundancy claims and guides employees to claim from the National Insurance Fund for any shortfall.

Generally, no, if you have not given personal guarantees or acted wrongfully. However, if you traded while insolvent or breached director duties, you could face personal liability. A liquidator investigates and may pursue claims against directors for misconduct.

Choose a licensed insolvency practitioner with experience in your sector. Verify their licence with a recognised professional body. Seek recommendations and compare fee structures. A good liquidator communicates clearly and helps you understand the process from the outset.

Yes, most liquidations are voluntary, either members' voluntary liquidation for solvent companies or creditors' voluntary liquidation for insolvent ones. These do not require court involvement. Compulsory liquidation is court-driven and typically initiated by creditors or directors.