Liquidation
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CLOSING DOWN A COMPANY
Liquidating a Business
Unfortunately, sometimes liquidating a business is the appropriate solution, but this should always be done orderly and efficiently. Once the directors realise that their company is in an insolvent position (i.e. it’s unable to pay its debts) they legally must seek appropriate advice and, if required, take action when it comes to liquidation.
The liquidator will then attempt to sell any assets of the company and distribute any cash proceeds to the creditors according to their appropriate rankings. Critically however, speaking to FD Business Rescue as early as possible is the best way to avoid getting to this point. As you’ll read elsewhere on this website there can be other solutions, but only if we get involved early enough. So, get in touch now to discuss your situation.
Quick and efficient way of closing a business
Liquidator takes control and sells off assets
We have a duty to maximise all value left within a business
What's the best option for my business?
FAQ
Liquidating a Business
The best answer to this question is to contact us as early as possible – as it could be that there is an alternative solution for your situation. We often speak to companies who contact us too late.
The liquidator has a responsibility to raise as much money from the sale of business assets as they can – however, this can mean that Directors are able to buy assets back (such as equipment or even a brand name / website).
We live in a country that encourages entrepreneurs, therefore there is nothing to stop directors starting another company if a previous one fails. However, there are specific rules around the re-use of company names which must be adhered to ensure there is no confusion between the new company and the previous company. Our advisors can keep you right and advise on how best to re-start.
How can liquidation help you and your business?
FD Business Rescue Manager, Rob Hardie gives an introduction to how liquidation can help rescue your business. Get in touch to speak to a qualified advisor, our team would be delighted to help and explore the right options for you.
Download our free guide to see 5 ways to rescue your business that you didn't realise were an option
If you require help, get in touch or download our FREE guide with some top-tips you may not have considered.
SUPPORT
How We Can Help
Sometimes liquidating a business may seem like the only way forward, but we can resolve in time. Even if the outcome does result in liquidation, we can help make the process as stress-free as possible.
CASE STUDIES
See how we’ve helped
other business owners
Testimonial
“Just wanted to thank French Duncan for the sterling service provided by yourself and your colleagues with regard to my company’s CVL. The process was smooth and swift, with excellent communication which eased a stressful time greatly.” An anonymous company director who recently utilised the
Testimonial
“I had an excellent experience working with French Duncan in managing the liquidation of my company. The team are very experienced and knowledgeable with an excellent understanding of the issues faced by businesses in financial distress. Rob Hardie handled my affairs with professionalism and was
Renewables
This was a great outcome for the directors, the project and creditors. French Duncan’s Restructuring team was approached by directors and shareholders of a small renewables company. The renewables company was in the “build phase” of its development and had ran into difficulties with its
Testimonial
“Just wanted to thank French Duncan for the sterling service provided by yourself and your colleagues with regard to my company’s CVL. The process was smooth and swift, with excellent communication which eased a stressful time greatly.” An anonymous company director who recently utilised the
Testimonial
“I had an excellent experience working with French Duncan in managing the liquidation of my company. The team are very experienced and knowledgeable with an excellent understanding of the issues faced by businesses in financial distress. Rob Hardie handled my affairs with professionalism and was
Renewables
This was a great outcome for the directors, the project and creditors. French Duncan’s Restructuring team was approached by directors and shareholders of a small renewables company. The renewables company was in the “build phase” of its development and had ran into difficulties with its
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