Yes I have received a petition to wind up your company from the court

Seek insolvency advice immediately, you are at risk of COMPULSORY LIQUIDATION

Yes I wish to stop trading my business and either close or sell it.

It’s likely a MEMBERS VOLUNTARY LIQUIDATION is what you need.

Yes, may need some restructuring advice

It sounds like you might have a complex situation – it might be best if you CONTACT US to see where we may be able to help.

Congratulations

– keep going! It doesn’t seem that you need our advice. If you think you still need some advice though feel free to CONTACT US.

Yes I/we have assets that could be sold as a going concern

Its likely that ADMINISTRATION could work for this business or indeed, it may be better suited to a CREDITOR VOLUNTARY LIQUIDATION

No thare are very few assets and unlikely anything that anyone would want to buy

It’s likely that a CREDITORS VOLUNTARY LIQUIDATION would be the best option for you here.

Yes I/we have Fixed Charge Holders

You run the risk of an LPA RECEIVER being appointed over the assets they have a charge over. Take the test again to see what the outcome might be if the charge holder doesn’t take action.

Yes I/we have Floating Charge Holders

They may choose to appoint an ADMINISTRATOR. This can happen within 48 hours so seek immediate help. Take the test again to see what the outcome might be if the charge holder doesn’t take action.

Yes I/we have both Fixed and Floating Charge Holders

You run the risk of an LPA RECEIVER being appointed over the assets they have a charge over but they also could appoint an ADMINISTRATOR in which you lose full control of your company. Take the test again to see what the outcome might be if the charge holder don’t take action.

Yes I/we believe the business can be saved based on future projects

Depending on your business and what types of assets you have, it’s likely that a CREDITORS VOLUNTARY LIQUIDATION would be the best option for you here. If you think your business is unlikely to be able to continue trading you should CONTACT an advisor immediately as you run the risk of being made personally liable for the debts of the business.

The Level of Creditor Pressure is OK...

It’s possible that you may be able to do a CREDITORS VOLUNTARY ARRANGEMENT to pay part or whole of your debts over an extended period of time, usually 3-5 years.

The level of creditor pressure is quite bad

You may require an ADMINISTRATION which usually happen quite quickly. This is a rescue procedure in which, once the Administrator is appointed, the unsecured creditors cannot take any further action without relevant permissions. This is can be a rescue procedure for the company giving time to decide whether the company can be saved , closed or sometimes sold.