A company may have to go into liquidation for reasons beyond the control of the directors. For example, a bad debt or change in the market may make a company insolvent overnight.

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Even though it is probably inevitable the business needs to be wound up there may be a core profitable business that the directors wish to restart through a new company.

It would be possible for the directors to buy the assets of the old company and even use the name of the old company under certain circumstances.

There would need to be careful consideration if a business were to be restarted. The directors would need to be sure that the venture would be successful and any mistakes of the failed company were avoided.

Above all, the directors need to take professional advice.  Contact us today for a free no obligation consultation.