Liquidation

Liquidation is also referred to as “winding up” a company. The process involves liquidating a company’s assets and then closing or deregistering it.

There are four types of liquidation: Creditors Voluntary Liquidation, Court Liquidation, Provisional Liquidation, and Members Voluntary Liquidation. The path you go down depends on who initiates the process and the state of your company. It’s against the law to trade when you can’t pay your debts so seeking early advice is crucial.