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Raven Solution
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Frequently asked questions
What is the difference between a CVL and an MVL in Stoke-on-Trent?
A Creditors Voluntary Liquidation (CVL) is used when a company is insolvent and cannot pay its debts. An MVL (Members Voluntary Liquidation) is for solvent companies that wish to close, often for tax efficiency or retirement. Our liquidators in Stoke-on-Trent will assess your solvency and recommend the correct procedure.
How much do company liquidators charge in Stoke-on-Trent?
Fees vary based on company size, asset complexity, and creditor numbers. For a typical small business CVL, costs often range from £3,000 to £6,000 plus VAT, but we provide fixed-fee quotes after a free initial review. Always confirm all fees in writing before engaging a liquidator.
Can I keep trading if my company is insolvent in Stoke-on-Trent?
If you continue trading while insolvent, you risk wrongful trading claims against you personally. Once you know the company cannot pay debts, you must stop trading and seek professional advice immediately. Our Stoke-on-Trent liquidators can help you act legally to protect your position.
What happens to employees during a company liquidation in Stoke-on-Trent?
Employees are usually made redundant when a CVL begins. They may claim statutory redundancy pay, unpaid wages, holiday pay, and notice pay from the National Insurance Fund via the Insolvency Service. Our team will provide necessary forms and guidance to all affected staff.
How long does a company liquidation take in Stoke-on-Trent?
A CVL typically takes 6 to 12 months to complete, depending on asset realisation and creditor claims. An MVL can be faster, often 3 to 6 months. Your liquidator will provide a timeline based on your specific situation and keep you updated throughout the process.
What are the alternatives to liquidation for a Stoke-on-Trent company?
Alternatives include administration, company voluntary arrangement (CVA), or informal restructuring. If the business is viable but has cash flow issues, a CVA may allow you to repay debts over time. We will explore all options with you to find the most cost-effective solution.
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