Jones Partner
 

Liquidation is NOT a dirty word!

10/04/2013 by Bruce Gleeson

Whilst the term liquidation is frequently used, for many company directors or business owners it is still not always well understood and indeed feared. Whilst this is understandable, it is important to understand that this can also be a final part of the overall strategy when it is determined that a business (or company structure) is wound up. Critically directors and business owners need to seek professional advice (from appropriately qualified people – not unqualified consultants!!!) when they know the business is not heading in the right direction. In the main business failure is largely due to “micro” effects on the business, rather than “macro” factors as is sometimes reported. There is also the important consideration of trading whilst insolvent that directors unnecessarily expose themselves to when continuing to operate a business that is in financial distress. Take the pressure off yourself and get professional advice at the earliest possible stage so they can help you keep things under control.