Top 5 Things To Know About Liquidation with David Hill

1. You can be a director of another business if you liquidate your current business.
2. If you don’t take action and organise the business’s financial affairs, a creditor can appoint a liquidator through a court windup process.
3. When you liquidate a business, it does go on your credit file. You may still be able to get financed, but it will depend on your financial circumstances.
4. You may be pursued for insolvent trading by the liquidator, so it’s always best to appoint a liquidator voluntarily rather than be wound up through the courts.

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