You’ve been trying to keep your head above water in the face of financial distress and are refusing to let the business go down without a fight. Despite your best efforts, liquidation can be an unavoidable reality and in some cases is the best course of action. Acting quickly to liquidate can eliminate the accrual of further debt and provide a better outcome for you and your creditors.
Liquidation not on the cards? Unfortunately the decision can be out of your hands. Creditors at risk from unpaid debt often force a spanner in the works by taking action to wind up a company in financial distress in an effort to mitigate their own downfall. So, what do you do? Speak to a lawyer.