Fortis Business Rescue

How long does it take to wind up a company via liquidation?

There is no exact answer to this question as it largely depends on the structure of the company and the specificity of the problems at hand with the business.

If you have been ordered by the court to liquidate your business, you should expect to have a liquidator appointed within two weeks.

This process may be as little as seven days if 90% of shareholders accept short notice following a statutory notice from creditors.

If you seek voluntary liquidation, it is up to the directors and shareholders to appoint an appropriate liquidator to begin the winding-up process.

Looking for liquidation advice? Speak with Fortis.

The initial conversation is free and strictly confidential.

Send us a message, call us on 0161 694 9955 or email [email protected].

With Fortis, you're never alone!

Times are tough, and with that comes hardships, especially if you’re a business owner.

People are holding back on investing in new products and services to tighten their purse strings while navigating the current economic climate.

This means you may have seen a downturn in sales, meaning you’ve had to make sacrifices like cutting staff and reducing your outgoings.

Sometimes, no matter what you do, unfortunately, there is no way out of a financial crisis as a business owner.

When this happens, you may find that your business is operating insolvent. From this point, it will be time to consider winding up your company.

If you've arrived at this point, let Fortis guide you through the next part of your business journey.

The initial conversation is free and strictly confidential.

Send us a message, call us on 0161 694 9955 or email [email protected].

With Fortis, you're never alone!

What if my cash flow problems aren’t temporary?

Sometimes cash flow problems cannot be resolved.

When this is the case, a Creditors’ Voluntary Liquidation may be your best option. Directors can action CVLs if the company becomes insolvent or the shareholders pass a winding-up resolution.

Once the CVL process begins, the company will cease trading, and the liquidation process will begin. Your appointed insolvency practitioner will liaise with creditors on your behalf, relieving any stresses you may have.

For some situations, a CVL may not be the best option, so an insolvency practitioner can advise you on what you should do next.

Free advice from Fortis:

If you’re concerned about your cash flow, contact Fortis today for free initial advice.

All conversations are strictly confidential. We’re here to remove your stress and find solutions that work for you! Call us on 0161 694 9955 or email us at [email protected].

The Accelerated Payment Notice (APN) is a piece of legislation that was introduced to target taxpayers who have used legal tax avoidance schemes to shelter money.

A large number of business and Individuals in the United Kingdom who benefitted from tax gains via the Disclosure of Tax Avoidance Schemes (DOTAS) are now receiving Accelerated Payment Notices (APNs) which usually demand payment within a 90-day deadline period.

These demands offer no right of appeal and will cause a lot of companies in receipt of these notices to become insolvent as they struggle to meet the tax liability.

To learn more, speak with the Fortis team today for a free, confidential chat!