How do I close down a Limited Company?

What is an Insolvency Practitioner?

At RPG Business Recovery we are often asked how do I close down a Limited Company?  As you can imagine the answer ranges from a very simple solution to more complex solutions which is all depending on the Company.

The way you closing down a Limited Company depends on a number of factors such as:

  1. Is the Company Solvent or Insolvent?
  2. Does the Company have any employees?
  3. What are the assets of the Company?
  4. Are there assets that may have a value in the future?
  5. Who are the creditors of the Company and how much are they owed?
  6. Do you have any secured lenders?
  7. Does the Company have a viable business?  Could the business be sold?
  8. Does the business need run off insurance cover to protect the Directors?
  9. Regulatory issues?
  10. Contractual obligations?

At RPG Business Recovery we don’t believe in one solution fits all and many of our solutions are bespoke for each scenario.  We have had great success in finding solutions for businesses where the director initially contacts us to “close down the Limited Company”  we have found solutions which has kept the doors open for business and the loyal employees have retained their jobs.  We have also helped many directors that felt that they were at the end as they had run out of cash and RPG Business Recovery restructured their debts providing much needed breathing space to allow the business to move forward.

There are a wide range of solutions available for many businesses and a business closure is not always the best solution.  The options include many non formal insolvency options as well as the more formal insolvency solutions. We are also able to deal with the Liquidation of the Company if the Company has come to the end of its life.  Both Alan (Mobile 07580 885750 or email acoleman@rpg.co.uk) and James (Mobile 07717 001087 or email jfish@rpg.co.uk) are highly experienced Licensed Insolvency Practitioners and also Business Turnaround experts and can provide you with a free of charge initial advice meeting to explore ALL the options available to the Directors.

The sooner that you contact us for an initial FREE OF CHARGE meeting the more options that are likely to be available to a Director.

Remember – only Licensed Insolvency Practitioners can assist you with formal insolvency appointments (this is a legal requirement) and are best placed to provide insolvency/debt advice.  Licensed Insolvency Practitioners are highly regulated and have professional indemnity insurance.  Unfortunately, there are a number of unregulated “debt advisors” advertising on the web that demand payment for their costs and then have to refer you to a Licensed Insolvency Practitioner for any formal insolvency who may also require payment and you could effectively end up paying twice unnecessarily.  In our experience, many debt advisors provide poor or wrong advice and in some cases encourage Directors to break the law.

RPG Business Recovery is part of Royce Peeling Green Limited (a firm of Chartered Accountants) and was established over 100 years ago (established in 1911).  RPG have offices in Manchester, London and North Wales.  All Insolvency Practitioners at RPG Business Recovery are authorised and licensed by The Institute of Chartered Accountants in England and Wales.

At RPG Business Recovery we highly recommend that Directors should always take advice as early as possible as this gives us the greater chance of being able to save your business and avoid a business closure.  Please feel free to contact us for a FREE no obligation advice meeting or if you prefer you are welcome to contact our Licensed Insolvency Practitioners directly.  Our Insolvency Practitioners are Alan and James. You are welcome to contact either Alan (Mobile 07580 885750 or email acoleman@rpg.co.uk) or James (Mobile 07717 001087 or email jfish@rpg.co.uk) directly.