You can put your company into liquidation within seven days. The legal rule is that creditors must have at least seven days written notice of liquidation.
Liquidate My Company
In practical terms however, we (insolvency practitioners) need to discuss with you your company’s current financial position and make sure that liquidation is the right procedure for you first. This usually takes no more than half an hour unless your circumstances are very complicated.
We then get you to sign the legal paper work that has to be posted to creditors and advertised in the London Gazette. You don’t have to call the meeting of creditors that quickly – we do recommend in most cases you give creditors 14 days to respond. However the notice period is your decision.
Time can also be saved through us emailing you all the necessary forms to sign and you scanning and returning them to us.
If you would like to know more about liquidation, contact David.