Company Liquidation Farley in Farley

Contact Us

As scary as it may for seem for businesses, old and new, there may come a point when liquidation is the only viable option remaining. So how did you get to this point? There is a number of reasons why liquidation of a company may become a necessity, for example, it may be that your company is simply not profitable anymore – or it may be that your company has taken on too much debt and your creditors are forcing you into compulsory liquidation.

Whatever the reason, we can help guide you through the process and give you all the information you may need to get the ball rolling.

Find Out More

What Does Liquidation Mean?

So, what exactly is liquidation and what does it mean for you and your company? Well, quite simply, liquidation (sometimes known as a winding up order) is a process that sees a company brought to an end – with its assets and property then being redistributed in order to pay off its debts.

You will find three different types of liquidation, two voluntary and one compulsory, but we’ll have more on that later – however, the end goal of all three remains the same – to bring your business to an end.  If you’re unsure of what type of is suitable for your company, don’t worry, we will do all we can to help and guide you through the process.

How to Liquidate a Company

If you’re feeling a little overwhelmed and don’t know where to start, don’t worry, we can talk you through the process of liquidating a business – but here’s a brief overview.

When liquidating a company, there are generally five main steps to follow in order to complete the process. Firstly, an insolvency practitioner will be appointed as Liquidator and it is their job to oversee the whole process and ensure it runs as smoothly as possible for all involved parties.

Secondly, all of the company’s assets are then assessed and liquidated. Next, creditors will then be paid what they are owed (or an agreed upon amount) in order of priority. Then, any surplus cash remaining will then be distributed to the directors accordingly. Finally, the company is dissolved and is the struck off the registrar of companies and Companies House, meaning it will no longer be able to operate or trade.

Contact Our Team

Types of Liquidation

There are currently three types of liquidation available to companies – two voluntary processes and one compulsory process.

·         Firstly, there is the voluntary liquidation of an insolvent limited company. This type involves the dissolution of the business and sees it assets redistributed to its creditors. This is generally seen as a last resort for companies, but it can also be a rational decision that may not necessarily mean the end of the business, as it enables directors to write off unsecured debts that have not be guaranteed personally.

·         The second form of voluntary liquidation is that of a solvent limited company. Otherwise known as a Member’s Voluntary Liquidation (MVL), this is generally considered the fitting way to liquidate a company and can even be used as part of an exit strategy. Reasons for considering an MVL may be that you are looking to reduce taxation by closing your company as part of a business plan, or your business may simply be coming to an end naturally. You must consider, however, that to be eligible for an MVL, a declaration must be signed confirming that there are no remaining creditors (including HMRC).

·         Finally, there is compulsory liquidation of a company. This is considered the most severe of all three types – as it is usually initiated by a creditor that is aiming to force to company to liquidate, usually in the form of a court order. It’s safe to say, you may not be too happy with your business being forced into closure, but do bear in mind, this is generally a last resort by creditors, probably after several unsuccessful negotiations over missed payments etc.

If you do find yourself in this situation, do be aware that your conduct during this process will be reported to the Secretary of State at the end of proceedings and if you have failed to cooperate, there may be some pretty serious consequences.

Liquidation Process UK

Here in the UK, there are several things that need to be considered before the liquidation process can even begin. For example, directors must meet to pass a resolution to convene a general meeting for liquidating the company, per the Companies Act 2006.

When the meeting is agreed, all creditors must be notified at least seven days before said meeting is due to take place and an advert must be placed in The Gazette within 14 days. A statement of affairs must then be drawn up by the directors, to prevent at the meeting. After the meeting has taken place, one director must then be chosen to formally represent the group at the meeting with the creditors.

You may be wondering how long the UK liquidation process will take, in regards to winding up your business. But, the truth is, there is no accurate answer for this, as each case is unique and it generally depends on the size and complexity of the business – as well as its debts, assets and property.

It’s also worth noting that if you were the director of a company in compulsory liquidation or creditors voluntary liquidation, you will be banned from forming, managing or even promoting a business that has the same name, or a similar name to your liquidated business – unless you have been granted permission to do so by the court.

Find Out More

We appreciate that all of the above may seem like a lot to digest, at an already stressful time if you are going through, or considering going through liquidation of a company, be it voluntary or involuntary. However, you can rest assured that the insolvency services we offer are here to help and assist you in getting the best possible outcome for yourself and your business.  

Get In Touch

We cover Farley (Shropshire)

Get in touch

We aim to get back to you in 1 working day.


Skip to

Gallery

Other locations available for company liquidation farley
Woofferton Rhyn Newport Osbaston Claverley Priest Weston Chirk Bank Presthope Bryn Stafford Park Hope Park Hordley Eaton upon Tern Tuckhill Obley Allscott Rosehill Crickmery Pontesbury Hill Sleap Norton Tilsop Gilberries Shipley Worthen Trefonen Alcaston Haughton Moretonwood Malehurst Church Stretton Sibdon Carwood Stitt Deuxhill Cross Houses Hints Ragdon Asterton Whiston Cross The Sydnall Adderley Maesbrook Aston Pigott Kenwick Styche Hall Stapleton The Grove Oaks Little Bolas Grinshill Buntingsdale Estate Lawley Common Purlogue Neenton Tedsmore Berwick Wharf Llwyn Wernlas Hanwood Platt Lane St George's Wattlesborough Heath Hallon Rodington Crickheath Heathbrook Prees Lower Heath Heathlane Edgmond Marsh Great Lyth Lyneal Wood Hayton's Bent Picklescott Barkers Green Blackmore Cleobury North Whittington Oakengates Dorrington Somerwood Morton Common Stoneylane Walton Eardiston New Marton Pentre Lower Dinchope Dryton Badger Gravenhunger Moss Palms Hill High Ercall Whettleton Fenn Green Colebatch Binweston Pedlar's Rest Wollerton Market Drayton Shifnal Town Centre Chetton Stokegorse Balmer Heath Dovaston New Works Boningale Boraston Haston Felhampton Cluddley Edgerley Wettles High Heath Coleham Ale Oak Catstree Morville Redhill Haughton Stretton Westwood Muxton Knowbury Saltershill Defford Church Pulverbatch Kemberton Knowlesands Willstone Welshampton Quina Brook Porth-y-waen Woodside Booley Acton Burnell Forton Bourton Westwood Ruyton-XI-Towns Brockton Twyford Child's Ercall Sutton Tasley Birtley Nobold Ashfields Sheet Coalbrookdale Waymills Ashford Carbonell The Leath Shelton Bowbrook Culmington Prescott Leaton Heath Pentre Hodre Little Worthen Hindford Dhustone Wolverley Lane End Sutton Rhyd-y-cwm Shirlett Whittingslow Burlton Eyton on Severn Apley Forge Cramer Gutter Pen-y-bryn Burcote Crossgreen Farley Bourton Lawley Bank Little Ness Chapel Lawn Stretton Heath Eyton upon the Weald Moors Gretton Overs Little Ryton Bettws-y-Crwyn Astley Abbotts Criftins Weston Coundarbour Hollinswood Aston on Clun Walcot Belle Vue Church Preen Greete Old Woodhouses Ollerton Tilley Green Ticklerton Lydbury North The Four Alls Little Wytheford Chesterton Upper Dinchope Lyneal Mill Lockleywood Gravelsbank Stableford Atcham Clunbury Uckington Eaton Mascott Bagginswood Cobscot Monkhopton Upper Treverward Roman Bank Tarts Hill Haughton Hinwood Prees Heath Leegomery Bicton Upton Magna Shawbirch Eyton Crosemere Brandhill Chirbury Shoot Hill Willey Upper Farmcote Heathgates Etsell Mose Gobowen Upper Wigginton Brunslow Puleston Milford Horderley Ketley Maesbury Lee Hollywaste Brockton Donnington Hamperley Spoonleygate Peatonstrand Upper College Pool Bank Perthy Exfords Green Cheney Longville Stoke Heath Woundale Loppington Smethcott Hampton Beech Sleap Old Marton Linley Acton Nesscliffe Romsley Buttonoak Meole Brace Aston Aldon Henbarns Woore Mytton Besford Whitehaven Hadnall Lower Ledwyche Strefford Eudon George Greenhill Bank Ollerton Lane Stokesay Preeshenlle Pentre The Wyke Walkmills Broughall Long Lane Ruckley Burwarton Upper Millichope Pulley Great Wytheford Hatton Grange Stottesdon Baschurch Abdon Lawley Morton Creamore Bank Colemere Coalmoor Broome Nedge Hill Patton Abbey Green Mitnell Hampton Loade Bromlow High Hatton Causewaywood Chatford Stanton upon Hine Heath Dobson's Bridge Inwood The Corner Oldfield East Wall Ellesmere Ludlow Vron Gate Hillside Bings Heath Preston Montford Poynton Minsterley Crosslanes Cwm Wotherton Hartsgreen Knowle Ightfield Heath Crosslanes St Martin's Moor Munslow Newton on the Hill Battlefield Bromley Cold Hatton Ford The Bog Leaton Wistanswick Eyton Overdale Horton Nordley Hampton Bank Morda Sundorne Sascott Wombridge St Martins Edgeley Wrentnall Cound Grimpo Gatacre Park Cabin Rushton Stanwardine in the Wood Ash Parva Plowden Yeaton Glazeley Sutton Hill Montford Mill Green Wern Adeney Battle Field Underdale Worldsend Edstaston Booleybank Westonwharf Rowe Marsh Green Stoneacton The Humbers Eaton Constantine Meadowtown Edgton Castle Fields Lower Faintree Newtown Acton Reynald Admaston Spring Gardens The Hem More Ternhill Steeraway Myddlewood Kingswood Horton Ashbrook New Invention Marshbrook Cornbrook Chipnall Leamoor Common Cockshutt Cantlop Broncroft Redhill Llawnt Halford Llwyn-y-go Bradney Underton Farden Much Wenlock Kingsland Hinton Lostford Three Ashes Bryn-y-cochin Catherton Coreley Barnsley Bayston Hill Bearstone Madeleywood Pipe Gate Lawley Donnington Wood Batchcott Gledrid Whittytree Chetwynd Welsh End Kingsnordley Nills Hill Horsehay Mickley Skyborry Green Spoonley Roughton Upper Longwood Bronygarth Ightfield All Stretton Habberley Dorrington Pant-glas Porthill Newcastle Brockton Newdale Bratton Hopshort Brynore Hopton Mynd Albrighton Stiperstones Stanton Lacy Treverward Anchor Hopesgate Twmpath Rowton Sytch Ho Green Aston Henley Cardeston Clee St Margaret Bulthy Uffington Little Drayton Cheswell Coundmoor Emstrey Oreton Welsh Frankton Frodesley Weston Bridgnorth Mardu Hampton Sambrook Muckleton Pinstones Eyton Ford Heath Wagbeach Longden Bilmarsh Ketley Bank Waters Upton Woolston Hollyhurst Bedstone Bromdon Leaton Farlow Abcott Oldington Shotatton Muckley Cross Summerhill Shawbank Clungunford Wellington Pentre-clawdd Newton Brompton Church Aston Heathton Stocktonwood Sheinton Gronwen Lushcott Uppington Edgebolton Chelmarsh Leebotwood Walkmill Town Park Peplow Ironbridge Easthope Llynclys Chavel Chetwynd Aston Llanfair Waterdine Howle Hopton Castle Ireland's Cross Hillend Long Common Forton Heath Upper Forge Nox Haughton Goldstone Bletchley The Hobbins West Felton Rhewl Linleygreen Oteley Barrow Ditton Priors Rowley Burley Newnes Bomere Heath Wooton Sleapford Charlton Meeson Rhosygadfa Ladyoak Lighteach Rowton Kingslow Little Common Sutton Maddock Rednal Moston Clunton Aston Square Leigh Swancote Webscott The Rock Cwm Head Bicton Felton Butler Nefod Valeswood Pen y Foel Horsebridge Crudgington Copthorne Atterley Stockton Bryn Harlescott Wollerton Wood Hopesay Lydham Crowsnest Longford Linley Upton Cressett Steel Heath Winsley Newington Great Ryton Plealey Lee Brockhurst Cruckton Choulton Stoney Stretton Hemford Commonwood Paddolgreen Northwood Hook-a-gate Gravel Hole Weston Clun Cross Houses Burlington Craig-llwyn Morville Heath Eaton Silvington Turleygreen Rhos Wilcott Rockhill Nantmawr Lower Down Kinlet Catteralslane Tyn-y-coed Hill Houses Marton Hodnetheath Rorrington Shootrough The Grove Doseley Stanford Broadstone Cross Lanes Pickstock Hopton Cangeford Broughton Beckbury Wyken Posenhall Woodside Pentirvin Heath Lanes Westbury Weston Heath Conquermoor Heath Leaton Knolls Nib Heath Marchamley Wood Neen Savage Dothill Pitchford Middleton Lightwood Ebreywood Blackoe Old Woods Ash Magna Stanbatch Trench Craven Arms Wood Lane Lower Ridge Dallicott Bitterley Garden Village Yorton Madeley Little Stretton Netherton Heath Kinton Wistanstow Prees Higher Heath Nash Elbridge Pulverbatch High Town Frodesley Lane Hazler Pentre Rodington Heath Cressage Prees Green Red Lake Handless Donnington Spring Gdns Billingsley Whitcot Churchbank Upper Cound Ponthen Weston Twitchen Middleton Scriven Higford Monkmoor Littlegain Rhiews Wykey Rodway Wootton Churchmoor Rough Walton Bucknell Preesgweene Arleston Hungerford Sandford Longville in the Dale Cockshutford Hollinwood Upper Netchwood Grafton Dunnsheath Stapeley Newton Burford Cheswardine Lower Hopstone Sodylt Bank Wern ddu Selattyn Bishop's Castle Cleedownton Pontesford Aston Munslow Upper Hayton Beckjay Butlersbank Ruthall Bulkeley Hall Marche Quatt Dallicot Lodgebank Haygate Trench Lock Plasau Ridgwardine Halesfield Cefn Einion Buttonbridge Hoptongate Gorsey Bank Merrington Lyde Noneley Wall under Heywood Stanwardine in the Fields Little Brampton Condover Tankerville Longden Common Tilstock Edge Lyneal Aston Hengoed Hodnet Shakeford Honnington Hanwood Bank Boraston Dale Wixhill Grindley Brook Onibury Randlay Blists Hill Kynaston Wootton Little Mosterley Old Coppice Vennington Snittongate Lynchgate Soudley Long Oak Purslow Norbury Kinnerley Willaston Daywall Vernolds Common Radbrook Wroxeter Dudleston Whatmore Comley Waterloo Diddlebury Stockton Upper Hengoed Stirchley Elson Spurtree Standford Bridge Lower Chorley Wilcott Marsh Llanllwyd Tibberton Upper Aston Ludstone Hawgreen Moreton Say Acton Scott Farmcote Plaish Nether Skyborry Baveney Wood Gadlas Wallhill Folley Harmer Hill Crickheath Wharf Shelve Stanmore Spunhill Westhope Peaton New Woodhouses Street Dinas Greenfields Benthall Hope Oswestry / Croesoswallt Alberbury Walcot Hopton Wafers Kempton Stockton Dawley Bank Redwith Norton Alderton Hinkshay Quatford Grindleforge Ditherington Clive Bagley Lower Hayton Caynham Morton Mill Round Oak Prees Wood Cleemarsh Greenfields Ensdon Stowe Longnor Meeson Heath Totterton Derrington Bankshead Pave Lane Cross Lane Head Yorton Heath Edgmond Cleestanton Gosford Wyke Yockleton Shelderton Birdsgreen Heathcote Aqueduct Marchamley Westoncommon Moors Bank Seifton Wootton Alveley Argoed Woolstaston Marton Withington Lower Beobridge Smythemoor Annscroft Berrington Hopstone Hilton Bromfield Newstreet Lane Prescott The Groves Lilleshall Hoptonheath Lubberland Burwood Tong Forge Little Wenlock Ellerdine Heath Higher Ridge Pepperstreet Poynton Green Norton in Hales Stanley Hilltop Ashford Bowdler Broomfields Hatton The Wood Montford Bridge Acton Round Bluebell Newtown Ryton Kynnersley Moreton Corbet New Ifton English Frankton Polesgate Beambridge Betton Abbots Bolas Heath Sidbury Hoptonbank Aston Rogers Lady Halton Chemistry Lower Monkhall Sandford Calcott Wrickton Myddle Longnor Park Mainstone Hortonwood Pentre-cefn Harton Craignant Hortonlane Broadoak Prees Calverhall Cotwall Croesau Bach Little Lyth Bache Mill Rudge Heath Woodhill Great Ness Holdgate Boreton Shawbury Radlith Broad Oak Beambridge Harnage Cross Mount Pleasant Coton Hill Bentlawnt Knockin Heath Brockton Upper Affcot Longford Turning Tong Norton Little Dawley Angelbank Preston upon the Weald Moors Hillwicket Eaton Brookside Old Shorthill Lea Cross Frankwell Cherry Orchard Hope Bagot The Waterwheel Dudleston Grove Farley Bagley Marsh Wigmarsh Highley Stoke on Tern Duddlewick Bushmoor Asterley Cold Hatton Heath The Lye Brookhampton Leighton Snailbeach Upper Astley Coalport Kenstone Garmston Mondaytown Callaughton The Down Linley Brook Weston Rhyn Butlane Head Charlcotte Walford Beobridge Corfton Rushbury Wheathall Lythbank Lower Hordley Priors Halton Pentiken Overton Stoke St Milborough Rhoswiel Hartlebury Wrockwardine Chelmick Cotonwood Bicton Heath Newbridge Lea Lynn Cleeton St Mary Norton Worfield Minton Wrockwardine Wood Halfway House Sheriffhales Breaden Heath Shrewsbury Arscott Basford Crowgreaves The Coalpits Vauxhall Wem Weston Coppicegate Pennerley Tweedale Ryebank Foxwood Harley Churchtown Albrighton Upper Battlefield Reabrook Snitton Milson Ifton Heath Melverley Green Woodseaves Pentre-coed Hadley Castle Snedshill Lea Pontesbury Preston Gubbals Nant-y-gollen Park Hall Hobarris Iron Mills Soudley Tetchill Brooklands Coed y Go Llanyblodwel Longford Homer Alkington Glynmorlas Shipton Gravelhill Castle Hill Little Worth Ball Radmoor Upper Ludstone Little Brockton Astley Brookrow Doddington Lilyhurst Myndtown Longdon on Tern Hardwick Buildwas Betton Strange Treflach Hinstock Great Bolas Low Town Hope Bowdler Babbinswood Spring Village Pont-Faen Wall Bank Colemore Green Stanton Long Ludford Maesbury Marsh Kenwick Park Bache Rockgreen Ellerton Broseley Ellerdine Meadowley Long Meadowend Medlicott Sutton Nant y Caws Weston Lullingfields Shackerley Draycott Middleton Priors Bouldon Woolston Hallonsford Lipley Knockin Cherrington Cardington Old Park Broome Longslow Renshaw Wood Cleehill Dawley Westley Sansaw Heath Turfmoor Cleobury Mortimer Telford Isombridge Grindle Quabbs Betton Rhydycroesau Middleton Tong Muckley Easthopewood Sugdon Lower Hopton Danesford Brownheath Ploxgreen Allscott Woodcote Lower Frankton Whitton Rosehill Middlehope Sutton Weston Heath Pentre-newydd Priorslee Crumpsbrook Hifnal Roden Besford Wood Gwern y brenin Pant Aston Eyre Crackleybank Charlton Hill Little Plealey Hurst Darliston Pentreheyling Lower Allscott Balmer Hungryhatton Neen Sollars Rushmoor Heath Hill Ratlinghope Acton Pigott Middleton Oldbury Betchcott Gravels Tilley Whitchurch Middleton Baggot Cunnery Corfton Bache Osbaston Black Marsh Sytch Lane Petton Lower Netchwood Rindleford Duxmoor Titterhill Argoed Wentnor Brockton Ridgway Stanley Green Kenley Woodlane Malinslee Coptiviney Walford Heath Swan Hill Bridges Whixall Newton Jackfield Eudon Burnell Lower Forge Wigwig Little Minsterley Enchmarsh Winnington Green Weirbrook Melverley Broad Lanes Coundlane Preston Brockhurst Hughley Hadley Dudleston Heath Papermill Bank Knowlegate Fitz Whitcott Keysett Queen's Head Sutton Hall Eardington Lowe Wollaston Ackleton Pen-y-Coed Springfield Lightmoor Brownhills Brandwood Shorthill Tugford Cruckmeole Chadwell Overley Loughton Shrawardine Newton Ruewood Fauls The Yeld Little Soudley Henlle Aston Botterell Preston