At Cheap Liquidation, we specialise in affordable and professional bankruptcy and liquidation solutions.

Whether you’re an individual struggling with debts, a sole trader, or a company director considering insolvency, our expert team of licensed insolvency practitioners offer a free consultation to guide you through your options.

Filing for bankruptcy in the UK can be complex, and understanding the role of the trustee, the impact on your property, and how your income and expenses will be assessed is essential. We assist debtors throughout the process, ensuring they meet legal obligations and are aware of their rights.

Our services cover different types of cases, from personal bankruptcy to liquidation for companies. We provide clear examples of how bankruptcy law applies to your circumstances and answer any questions you may have.

If you’re facing financial challenges, seeking advice from a qualified bankruptcy attorney or insolvency practitioner is crucial. Our team helps clients understand their obligations, from filing claims to dealing with the bankruptcy court and meeting legal requirements.

Take control of your financial future today, contact our support team for a confidential consultation on your options.

Why Choose Our Experienced Liquidation?

We offer a range of services designed to help businesses of all sizes liquidate their company and assets quickly and efficiently.

Here are just a few reasons why you should choose Cheap Liquidation:

• Competitive Prices: We pride ourselves on offering some of the most affordable liquidation services in the industry. We understand that businesses are often looking to liquidate their assets to recoup losses, so we offer competitive prices to help them achieve their goals.
• Fast Turnaround Times: We know that time is of the essence when it comes to liquidating inventory, which is why we strive to offer fast turnaround times. Our team works quickly and efficiently to get your items listed and sold as soon as possible, so you can get back to focusing on your business.
• Professional and Experienced: Our team of directors have years of experience in the liquidation industry, and we pride ourselves on being professional, reliable, and transparent in all our dealings. We’ll work closely with you to understand your needs and develop a customised liquidation plan that works for you.
• Wide Range of Services: We offer a range of liquidation services to meet the needs of businesses of all sizes, including online auctions, retail sales, and wholesale liquidation. Whether you’re looking to sell a few items or liquidate an entire warehouse, we have the expertise and resources to help.
• Personalised Approach: At Cheap Liquidation, we understand that every business has unique needs and requirements when it comes to liquidation. That’s why we take a personalised approach to every project, working closely with you to understand your goals and develop a customised plan that works for you.

Cheap Liquidation is a reliable and affordable liquidation company that offers fast turnaround times, professional service, and a wide range of services to meet the needs of businesses of all sizes.

Contact us today to learn more about how we can help.

What is the Liquidation Process?

Liquidation is a legal procedure that involves the appointment of a liquidator to finalise the affairs of a limited company.

Once the process is complete, the company no longer exists. However, it’s important to note that liquidation does not guarantee payment to the creditors of the company.

It’s different from other forms of insolvency – such as administration or receivership – in that it involves winding up the company’s affairs and distributing its assets to creditors.

The process is divided into two stages: Creditors Voluntary Liquidation (CVL) and Compulsory Liquidation (CL).

In CVL, shareholders decide to close the company and appoint an Insolvency Practitioner (IP) as Liquidator who takes control of assets and liabilities.

CL is initiated by a creditor or group of creditors petitioning the court for a winding-up order with an IP appointed as Liquidator.

The role of the Liquidator is to realise any assets, investigate the company’s affairs, then distribute proceeds among creditors before dissolving it from Companies House register.

This whole process can take up to two years depending on how complex things are.

Is a Low Cost Liquidation the Best Way Forward for Creditors?

Low Cost Liquidation can be an effective way of dealing with financial hardship if a company cannot pay its debts and creditors are pushing for it to be wound up.

The main benefit of this option is that it’s cost-effective and perfect for companies with limited resources who may not be able to afford more expensive liquidations.

When it comes to funding liquidation, there are several options available.

Companies can arrange loans or seek capital from shareholders; alternatively, they may recover money from directors’ loan accounts depending on their situation.

There are low-cost fixed-fee liquidations out there – but beware unlicensed insolvency ‘experts’ offering cheap services without expertise!

While a cheap liquidation might seem like an attractive solution in times of financial difficulty, consider all potential costs and risks before taking action – seeking professional advice from a licensed insolvency practitioner is essential to ensure the best outcome for your business.

How to Close a Company When There Are No Assets or Funds for a Liquidation with the Help of an Insolvency Practitioner

When a limited company finds itself with no assets or funds for liquidation, closing the company may be a complex process subject to various rules.

When there is no money to pay for an insolvency practitioner, it may seem impossible to liquidate a company. However, there are alternatives to liquidation that can be used to achieve the same outcome.

One option is to apply for voluntary dissolution and strike off the company from Companies House. This is the cheapest way to liquidate a company, but there is the potential for the company to be reinstated to the Companies House register if creditors are not notified.

The other option is the ‘I can’t afford a liquidation’ process, which is used when the company is insolvent and has minimal assets.

This process enables the company to be dissolved and removed from Companies House. To do this, the company must have paid all outstanding debts, including redundancy money, and the directors must have applied for the necessary clearance certificates.

When there is no cash at bank, there is an option for a more cost-effective procedure. This involves handing over the entire process to a licensed insolvency practitioner and paying a one-time fixed fee. The insolvency practitioner will handle the liquidation process, including asset realisations and the distribution of money among the company’s creditors.

When a company is insolvent, it may be necessary to liquidate it to close it down. However, this is a complex process and can be costly. If there are no assets or funds available for liquidation, there are alternative ways to close a company.

Applying for voluntary dissolution and striking off the company from Companies House is the cheapest way to liquidate a company, but it may not be the most suitable option.

The ‘I can’t afford a liquidation’ process is the most cost effective procedure when the company is insolvent and has minimal assets.

By handing over the entire process to a licensed insolvency practitioner for a one-time fixed fee, the company can be dissolved and removed from Companies House.

Lower Cost, Fixed Fee Liquidations with Expert Insolvency Practitioner

Post-appointment liquidation is crucial for raising funds for creditors, reviewing directors’ conduct and reconciling company bank accounts.

Our Licensed Insolvency Practitioners offer an innovative “I can’t afford a liquidation” or “Cheap alternative to Liquidation” process that is the cheapest insolvency option available – at least 25% less than other liquidators.

What’s more, this cost-effective service can be completed online on any device quickly and efficiently.

The fees are estimated instantly through the quote calculator so companies seeking an affordable liquidation solution know exactly what they’re getting into.

This low fixed fee will enable them to pay their creditors, cover liquidator costs and recover money from director loan accounts with minimal expense. The benefits of this process are clear: it helps both creditors and shareholders realise the assets of the company while paying off debts incurred by the business.

Our Licensed Insolvency Practitioners offer an unbeatable low-cost, fixed fee liquidation that maximises benefits to companies and their stakeholders – making it the best way forward!

Fixed Price Liquidation: Understanding Fees

Fixed price liquidation is a process used by limited companies to liquidate their assets quickly and efficiently. It involves a company offering its assets for sale at a predetermined price, usually through an online platform or store.

The advantages of this type of sale are that buyers can purchase items immediately without the uncertainty or time-consuming process of bidding in an auction and that the company can quickly move large amounts of inventory.

The main benefit that buyers receive from a fixed price liquidation sale is the assurance of a guaranteed sale price. This eliminates the risk of buyers overbidding or underbidding on items. The company also benefits because they can control the sale price of their assets and avoid any market fluctuations that could impact the final sale price. Additionally, buyers can purchase items from a variety of sources at one time, including from multiple sellers, making the process more efficient and convenient.

Overall, a fixed price liquidation sale offers buyers a secure and reliable way to purchase items from a limited company. It is also a cost-effective option for companies, as it guarantees them a predetermined sale price and allows them to move large amounts of inventory in a short period of time.

What Are the Costs of Liquidating a Company with Creditors?

The costs of voluntary liquidation are between £2,000 and £6,000 plus VAT, while the costs of compulsory liquidation are between £2,500 and £10,000 plus VAT. Company dissolution is the most cost effective option, with fees ranging from £50 to £100 plus VAT.

The cost of liquidating a company depends on the size, complexity and financial situation of the business. Generally, the costs associated with liquidation include insolvency practitioner fees, taxes due, legal fees and accounting costs.

When a company decides to liquidate, there are costs associated with the process. Liquidation is winding up a company’s business and selling off its assets to pay off creditors and shareholders. The most important cost associated with liquidation is the licensed insolvency practitioner fees. Insolvency practitioners are professionals trained to deal with insolvent companies and will be responsible for administering the liquidation.

Aside from the insolvency practitioner’s fees, companies may also be liable for taxes due on any assets sold during the liquidation process. Depending on the size and complexity of the company, other costs may be incurred such as legal fees or accounting costs.

Factors that can increase the liquidation cost include the number of creditors, unpaid employees or taxes due. If a company has many creditors, then the insolvency practitioner may have to spend more time managing payments and negotiations. Similarly, if the company has unpaid employees, then the practitioner may need to spend more time and resources dealing with these issues. Finally, if the company owes taxes, then additional costs may be incurred to settle these debts.

Depending on the number of creditors, unpaid employees or taxes due, there may also be additional costs. To help keep costs low, companies should seek out low cost, fixed fee liquidation services and avoid unlicensed insolvency ‘experts’.

Frequently Asked Questions About Liquidation

Can I Close My Company with a Bounce Back Loan?

You can close your company even if it has an outstanding Bounce Back Loan (BBL), but it must be done through the proper legal insolvency procedures. If your company is struggling financially and unable to repay its debts, including the BBL, you may need to consider Creditors’ Voluntary Liquidation (CVL) as a solution. This process ensures that the company is formally closed down, and its debts—including the BBL—are written off in accordance with UK insolvency laws.

We prove affordable and professional liquidation services, ensuring that business owners can close their companies legally while avoiding personal liability, provided there has been no misuse of funds.

What Happens to Personal Guarantees If I Close My Company?

If you close your company, any personal guarantees (PGs) you have signed for business debts will not be automatically written off. Unlike general company debts, which can be liquidated along with the business, personal guarantees make you personally liable for the outstanding amounts.

Recieve expert guidance on handling company closure, liquidation, and personal guarantee obligations, ensuring that you take the right steps to protect yourself and comply with UK insolvency laws.

Can I Liquidate a Company with HMRC Debts?

You can liquidate a company with HMRC debts, but it must be done through a formal insolvency process such as Creditors’ Voluntary Liquidation (CVL). If your company owes money to HMRC (e.g., VAT, PAYE, Corporation Tax) and is unable to pay, you have a legal duty as a director to act in the best interests of creditors and seek professional insolvency advice.

For more information on cheap liquidation, fill in the contact form below to receive a free quote today.