For help and advice contact Sheffield 0114 2859500 or Rotherham 01709 331300
A Creditors Voluntary Liquidation (CVL) is a formal insolvency procedure to wind up an insolvent company. A company is insolvent if its liabilities exceed its assets and/or it cannot pay its debts when they are due and there is no prospect of the company continuing to trade.
A CVL is commenced on a voluntary basis by the directors of the company. In a CVL, assets are sold with a view to paying a dividend to creditors where possible.
Right for your business?
If you feel your company cannot continue to trade without worsening the position of its creditors then it may be worth speaking to us about a CVL. Call us today on 0114 285 9500.