It can be very stressful and emotionally difficult when a business encounters financial difficulties. If your business has fewer assets than liabilities and it cannot pay off creditors when debts are due, it is insolvent.
In such cases, the options available may be limited. By acting quickly, there are several company rescue solutions that may be available – for example, you may be able to restructure payments or renegotiate terms – but otherwise, a voluntary liquidation may be the only path forward.
Continue reading “What Happens When a Company Wants to Go Into Voluntary Liquidation?”