CRS Insolvency Services are a group of trusted experts in both personal bankruptcy and business-related insolvency. Our experts are trained and qualified professionals that can offer you quality advice about liquidating your company. At CRS Insolvency Services, we understand the difficulty and confusion that is experienced when you are faced with the liquidation of your business, and we will aid you in this time of uncertainty.
The main red flags that indicate that a business might be heading toward liquidation include: a lack of knowledge of business practices; inadequate resources to cover costs; excessive expenditure to build business; failure of clients to pay money owing; and harsh competition.
To help you recognise the prevalence of company liquidation, CRS Insolvency Services have collated a list of the three main reasons that directors and shareholders choose to voluntary liquidate their companies:
- Trading Insolvent
If you notice that your company does not have the money to pay its debts as they fall due, then you should consider voluntarily going into liquidation. Continuing to trade and incurring further debt whilst insolvent comes with serious consequences.
If your company is insolvent and you fail to prevent it from incurring further debt by placing it into administration or liquidation, then as a director you could become personally liable for the debts incurred. By liquidating the company as soon as possible you will protect all directors, members and creditors.
If you frequently find yourself suffering from stress, depression, anxiety and insomnia over the thought of continuing to trade whilst in debt, then liquidation may be the answer for you. Insufficient funds and excess stress over increasing piles of bills are an indication that it may be time to talk to one of our specialists at CRS Insolvency Services.
At CRS Insolvency Services, we will work with you to ensure that you are fully informed of all possible options, actions and consequences during all of our consultations. We can be reached 24 hours a day, 7 days a week on 1800 210 073 for free, impartial and confidential advice about your options.