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Should I SELL my company or LIQUIDATE my company?
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1️⃣Should I sell my company?
2️⃣Or Liquidate my company?
This short video is a small snapshot into how these firms operate when they offer to buy your company.
If your company is in debt and it is insolvent, you may have seen adverts that say "we will buy your company." You pay them a fee to sell your shares and you resign as director.
Unfortunately, it's a bit more complicated than that, because they will try to dissolve the company. When the dissolution is objected (and if there is a Bounce Back Loan it will be objected), the creditor(s) will petition to liquidate that company and it will go down as compulsory liquidation.
There will be an official receiver who is appointed and they will go back 3 years to all the directors, and conduct an investigation.
You may think selling your company is a great idea, but in the long term you'll have a BIG problem.
The only way to close your company properly is through a liquidation.
It takes 5 minutes to understand if there are any personal implications for you, and we are a FREE service.
On YOUR side, in YOUR corner.
The Directors Helpline
📞0333 358 2451
2️⃣Or Liquidate my company?
This short video is a small snapshot into how these firms operate when they offer to buy your company.
If your company is in debt and it is insolvent, you may have seen adverts that say "we will buy your company." You pay them a fee to sell your shares and you resign as director.
Unfortunately, it's a bit more complicated than that, because they will try to dissolve the company. When the dissolution is objected (and if there is a Bounce Back Loan it will be objected), the creditor(s) will petition to liquidate that company and it will go down as compulsory liquidation.
There will be an official receiver who is appointed and they will go back 3 years to all the directors, and conduct an investigation.
You may think selling your company is a great idea, but in the long term you'll have a BIG problem.
The only way to close your company properly is through a liquidation.
It takes 5 minutes to understand if there are any personal implications for you, and we are a FREE service.
On YOUR side, in YOUR corner.
The Directors Helpline
📞0333 358 2451