Insolvent Liquidation

When a company cannot pay its debts in full then entering into insolvent liquidation may be appropriate. 

There are 2 types of insolvent liquidation:

  1. Creditors Voluntary Liquidation which is a process started by the directors of the company and agreed by the shareholders via the passing of a resolution.
  2. Compulsory Liquidation also known as ‘winding up’ and is a process initiated by a court application, often by a creditor owed more than £750. 

It is not very common for SME’s to use the Compulsory Liquidation route, but contact Philip Wood for more details and guidance.

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Is my company insolvent?
What is a CVA?
What is a liquidation?
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BCR offer insolvency services throughout Staffordshire, Shropshire, Cheshire and Lancashire with insolvency practitioners helping individuals and companies in Stoke on Trent, Shrewsbury, Telford, Bolton, Preston, Blackburn, Stockport and Manchester.