Lisa Thomas, insolvency practitioner at Neville & Co explains that in the end, liquidation may be the answer
The main part of our work revolves around advising Directors on the insolvency options for their companies and then holding their hand through whichever procedure is most appropriate in the circumstances.
Liquidation is one of the most common insolvency procedures used when a company is insolvent and there is little or no prospect of a rescue.
A company can go into liquidation in two ways either compulsorily through the Court (usually forced upon by a creditor) or voluntarily using an Insolvency Practitioner like me.
The voluntary procedure is known as a Credit…
Read the full article at: http://www.plymouthherald.co.uk/liquidation-can-take-the-stress-off-firm-s-owners/story-29707307-detail/story.html