I need advice on winding up my business

Our team will assist you, as the creditor, in understanding the available options and provide market-leading advice.

A demand for payment is often issued as a last resort when a client has failed to collect monies owed to them. This route offers creditors the opportunity to swiftly collect debts without court involvement. If such a demand remains unanswered and the debt is unpaid, a creditor can file a winding-up petition in court, a powerful tool for negotiation.

A winding up petition is the most serious form of action a creditor can take against a company and can force a struggling business to enter compulsory liquidation. However, not only does a winding up petition present a risk for the struggling business, but it can also have negative consequences for our clients if such a petition is issued to one of their customers.

In many cases, our specialists in winding-up petitions and statutory demands are likely to be aware that a creditor has issued or will be issuing a winding-up petition against your customer. Armed with this information, our team can support you through the process to ensure that your interests are protected.

We will help you recover your debts and address the issue at hand proactively and efficiently. By working with us to manage the situation and having access to all relevant information, you can also influence key decisions, increasing the likelihood of recovering debts. Our team will guide you, as the creditor, in understanding the available options and provide market-leading advice to help you achieve the desired outcome.

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Reasons to wind up a business

Our team of insolvency experts provide specialist advice in both corporate and personal matters, covering a range of processes including, but not limited to:

  • Liquidations
  • Receiverships
  • Administrations
  • Company Voluntary Arrangements
  • Individual Voluntary Arrangements
  • Bankruptcy

Things to consider when winding up a business

Taking early and robust advice will help to maximise the options available to you:

Does your business have surplus funds which could be distributed in a tax efficient manner?

The planning and timing of a solvent liquidation is key

Do you have outstanding debts with personal guarantees?

Do you have mounting financial pressures?

Are you able to pay your creditors?

Have you considered your personal financial position?

No matter what type of business you operate, having a strong business adviser to support and guide you through the process is extremely beneficial for a positive outcome. Our team at QuantumaDirect care about our clients and have the experience and skills to formulate business strategies that drive success.

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