We get quite a few requests from directors to help them close their businesses in London. With the constriction of credit and the falling off of order books, many small businesses are now becoming unviable, especially if they have carried debt into the current crisis.
We can offer a number of services to those looking to close their business. For many it will be a straight forward creditors’ voluntary liquidation, which may or may not be accompanied by a pre-pack sale of the assets and contracts of that business to another entity, either owned by the existing directors, or to a party introduced by them.
If you have a partnership, we can also close that down for you, again utilising a liquidation procedure. But in this case it may be that we also offer the partners individual voluntary arrangements, which will help manage their own personal and company liabilities.
If the business is not to close completely and there is a chance that the business can be a saved in whole or in part, we can advise on Company or Partnership voluntary arrangements, or administrations.Therefore if you wish to close your business please contact us immediately. It is clear from the latest insolvency statistics that close to 5,000 businesses per quarter will close in some way or other. Of course, many of these will re-start, but the point to take on board is that closing a business does not mean that you have failed. Global influences now affect every facet of individual economies and no-one can be shielded from the effects. The key is to realise when you need to take advice, and at that point to act decisively.
If you would like to talk about how to close your business in London to a specialist with many years corporate insolvency experience then enter your details into the web form below for a no-obligation chat.
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