Scarborough Company Insolvency Help
The Scarborough UK Liquidators office is dedicated to supporting company directors looking to close or rescue their company. Our licensed insolvency practitioners can advise you on how to liquidate your limited company to maximise returns, or if your business can be rescued by employing a formal restructuring strategy.
If there is a possibility that your company can be rescued, we will advise you on your options, from commercial finance and corporate restructuring. If you are in debt to creditors and have failed to make repayment, they may issue a winding up petition to force your company into liquidation.
To avoid compulsory liquidation, you may consider voluntarily entering liquidation to put an end to creditor pressure and have more control over the closure of your company.
A Creditors’ Voluntary Liquidation, also known as a CVL, is a formal liquidation procedure for insolvent businesses entered into on a voluntary basis and under the guidance of a licensed insolvency practitioner. During a CVL, your appointed liquidator will raise funds to pay creditors, any remaining debts will be written off and your company will be formally closed.
If you wish to close a solvent company, a Members’ Voluntary Liquidation can enable you to distribute funds in a cost-efficient manner, compared to company strike off, also known as dissolution. An MVL is suitable for cash-rich businesses with £25,000 or more in retained profits.
Our Scarborough licensed insolvency practitioners offer a free consultation to business owners looking to liquidate a company. In addition to our Scarborough office, we have nearby offices in Teesside, York and Hull.
