If your company is struggling to pay its debts, is being pursued by HMRC or is experiencing financial difficulties from which it is unlikely to recover then a Creditors Voluntary Liquidation (CVL) could be the solution for you.

In a CVL the company will stop trading and any assets will be sold to pay for the costs of liquidation and a dividend for creditors.

The company will no longer be pursued by its creditors. Any employees made redundant will be able to claim from the Redundancy Payments Service.

The liquidation process is straightforward and requires the agreement of a simple majority of directors and a 75% majority of shareholders.