What is Liquidation? Overview

Direct about Company Liquidation

Liquidation is the formal legal process to end the life of a Limited Company.

A company can be placed into voluntary liquidation by the directors and shareholders.

If the company is insolvent, then there is also a meeting of creditors.

The InsolvencyDirect online Liquidation system deals with all these formalities.

Liquidation is not the end of the company; it still exists, for the moment, in a protected state, while the Liquidator deals with the winding-up of its business affairs.

As soon as a Liquidator has been appointed, the Directors duties and obligations in respect of the company are effectively taken on by the Liquidator, and the Directors are in a position to make a fresh start, in the same line of business with a new Company, or they can exit the market and move onto new opportunities.

Once the Liquidation is complete, the company is dissolved, struck off the register at Companies House, and ceases to exist.

Most small company liquidations are routine and take around 6-8 months to complete. In practical terms, after the meeting of creditors, the directors will have no further involvement with the company, unless the Liquidator requires some assistance with the winding-up.

How much does liquidation cost?

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Making the decision to liquidate my company was one of the hardest things I have ever done. Alisdair and his staff made the whole process relatively painless, I would recommend them to any small business. Jason Nutt, Managing Director
The whole process was handled without any fuss, we were surprised and relieved that it all went so smoothly. Mike Phillips, Company Director
Liquidating online was simple and easy. As soon as I started the process, all the stress went away. Thankyou. James Cannock, Company Director
High quality information, professional and supportive at a challenging time. John Dooner