Chelmsford Company Insolvency Help
The UK Liquidators Chelmsford office offers a free initial consultation to company directors and business owners in financial difficulty and actionable advice on company restructuring and liquidation options. Our partner-led team is made up of licensed insolvency practitioners and business recovery professionals skilled in rescuing businesses.
Our advice is straightforward and helps tackle the financial health of your company head-on and keep creditor pressure and threats of legal action at bay. A common route used by creditors to recoup funds after they have exhausted every avenue is issuing a winding up petition. This is a serious action which could result in compulsory liquidation, if successful. If it is evident that your business has run out of cash, taking the Creditors’ Voluntary Liquidation route can give you greater control over the closure process.
Worried about your Bounce Back Loan?
If you are a limited company director worried about how you are going to repay your Bounce Back Loan, we are here to help. As licensed insolvency practitioners we can talk you through your options when it comes to repaying your outstanding Bounce Back Loan, as well as handling all negotiations with creditors on your behalf. Call our team today on 0800 063 9262 .
A Creditors’ Voluntary Liquidation is a director-initiated, formal insolvency procedure conducted by a licensed insolvency practitioner. If business turnaround cannot be achieved due to the accumulation of debts over a series of months, a CVL provides a quick exit with creditor interests in mind. It involves generating funds to repay creditors through asset sales and settling outstanding affairs. The business will then be closed and removed from the Companies House register, ceasing in existence.
If you wish to close a profitable business with a substantial amount of retained profits, a Members’ Voluntary Liquidation can provide the necessary means to extract profits tax-efficiently. Closing a solvent business consists of rounding up and distributing funds to shareholders under the direction of a licensed insolvency practitioner.
If you are on the receiving end of creditor pressure or you wish to voluntarily close your solvent business, get in contact with the Chelmsford UK Liquidators team.
