If you’re reading this, chances are you - or someone you know - is facing a tough situation. Maybe the business is struggling to pay suppliers. Maybe HMRC is knocking. Or maybe cash flow has dried up completely, and you're unsure what happens next. Whatever the reason, you're not alone, and you're certainly not the [...]
Costs of Going Into Liquidation: A Complete Breakdown for UK Business Owners Overview of Liquidation Liquidation marks the formal end of a company's existence, involving the sale of assets and settlement of debts with creditors. There are several types of liquidation which have different costs, timescales and risks attached to them. We advise to speak [...]
✅ Bounce Back Loan Liquidation Checklist: A Practical Guide for Directors If your business is struggling with an outstanding Bounce Back Loan (BBL) and you’re considering closing down, it’s important to take the right steps to ensure everything is handled legally and with minimal stress. This checklist will guide you through the liquidation process, so [...]
CCJ County Court: Navigating Small Claims Procedures in the UK Understanding CCJs County Court Judgments (CCJs) are legal orders issued when individuals or businesses fail to repay debts. These judgments can have significant financial and legal consequences, affecting one's credit score and ability to obtain future credit. Definition of a County Court Judgment A County [...]
Liquidation Administration Fees: Essential Guide for UK Insolvency Proceedings Understanding Liquidation Liquidation serves as a formal legal process to close down an insolvent company and convert its assets into cash for distribution to creditors. The process follows strict regulations and requires professional oversight. Definition and Purpose Liquidation marks the end of a company's life by [...]
Bounce Back Loan Liquidation: Options, Risks & Your Next Steps For many UK business owners, the financial impact of the COVID-19 pandemic has led to difficult decisions regarding Bounce Back Loans (BBLs). If your business is struggling to repay its BBL and considering closure, understanding your liquidation options and the risks involved is crucial. Here, [...]
Directors Fees for Liquidation: Essential Guidelines for Insolvent Companies Overview of Directors' Fees in Liquidation Just for clarity! Directors do not typically receive fees during company liquidation... Your role as a director effectively ends when the liquidation process begins, and the liquidator takes control of the company's affairs. During liquidation, you are not usually personally [...]
Low-Cost Business Liquidation: A Step-by-Step Guide to Closing Shop Efficiently Understanding Business Liquidation Business liquidation involves legal processes to close a company, such as distributing assets, and settling debts. The process is complex and needs to be right - it must be handled by licensed insolvency practitioners, such Anderson Brookes. We specialise in working with [...]
Company Liquidation Process: A Step-by-Step Guide to Closing Your Business Understanding Company Liquidation When your company enters liquidation, it ceases trading and all assets are sold to pay creditors. The process formally dissolves your business and removes it from the Companies House register. A licensed insolvency practitioner, such as Anderson Brookes, manages the entire procedure, [...]
Liquidation for Small Business: Essential Steps to Close Your Company Properly Understanding Liquidation Liquidation marks the end of a business's life cycle when it can no longer meet its financial obligations. The process involves selling assets, settling debts, and dissolving the company structure. Definition and Types of Liquidation Liquidation occurs when a company ceases operations [...]