Basingstoke Company Insolvency Help
The UK Liquidators Basingstoke Office provides company liquidation advice to company directors interested in proactively tackling outstanding creditor debts. Our team of licensed insolvency practitioners and business recovery experts will assess your business to determine the best route forward. If your business can be realistically rescued, our team may suggest a restructuring solution. In most cases, company liquidation may be the recommended route if your business is asset and cash poor and no longer has the necessary means to maintain financial commitments as it has run out of funds.
If you are behind on several payments, creditors may pressure you to make repayments or face company liquidation. This is a common route taken by creditors to recover outstanding funds, starting with a winding up petition. If the petition is successful and a winding up order is issued, your business will be forced into compulsory liquidation. This liquidation route allows for less control in comparison to voluntary company liquidation.
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 (CVL) is a formal insolvency procedure conducted by a licensed insolvency practitioner and initiated by the company director(s). The voluntary liquidation process consists of making repayments to creditors which may eventually result in any remaining debts to be written off. Once successful, your company will be closed and removed from the Companies House register.
If you are interested in exiting from your profitable company, you may decide to enter a Members’ Voluntary Liquidation. This liquidation process is suitable for financially healthy businesses with a substantial amount of retained profits. Once creditor affairs have been settled, the remaining funds will be distributed to shareholders, resulting in the closure of the business.
Contact a member of the UK Liquidators Basingstoke team for a free consultation to discuss company liquidation options.
