When a company has reached the point at which it can no longer trade, a creditors’ voluntary liquidation (‘CVL’) is a common way for the directors and shareholders to choose to close the company.
A CVL avoids the need for any court involvement and is handled, most often, without the need to hold a creditors meeting.
We agree your preferred date for liquidation and hold your hand throughout the process ensuring that all procedures are complied with so that you can focus on moving forward.
Some CVLs result in complete closure of the business whilst others include a phoenix or pre-pack element where the business is sold to a new entity allowing it to trade on debt free.
Contact us if you would like further information and assistance regarding any aspect of liquidating your business. There is no charge for doing so and it is without obligation.