Liquidation Specialists

It’s a damming statistic but over half of all UK start up businesses fail within the first few years of trading.

There are many reason behind this but essentially opening, operating and succeeding in businesses is an inherently difficult and challenging task, and one that is only compounded by tax and compliance obligations.

There are broadly two ways a company can be declared insolvent, firstly if it cannot meet it’s liabilities when they fall due, and secondly if it’s liabilities are greater than its assets.

Directors have a responsibility to address both of these issues as soon as they become aware, if they continue to trade whilst insolvent they could become personally liable for the debts incurred.

We can provide practical advice through to the appointment of a licensed Insolvency Practitioner who can arrange a Company Voluntary Arrangement (CVA) or where this is not a viable solution a Creditors Voluntary Liquidation (CVL).