Winding-up petitions are applications made to courts to wind up a company (close down a business) and can be made by parties outside the firm, such as creditors, or by the company’s directors themselves.
A winding up petition can only be issued by or to a company, while bankruptcy petitions are issued in the case of insolvent individuals.
After winding up, a company ceases to exist and if it is insolvent at the time, payments to all creditors will not have to be made – Instead each creditor tends to receive a proportion of what they are owed.
Court hearings are arranged for firms facing a winding up petition. Firms that find themselves or put themselves in this situation must seek legal representation to speak on their behalf during the hearing.
It may also be wise for them to seek advise from a debt professional who can provide guidance on paying off creditors. It is possible to stop winding up petitions if business owners act quickly.
For anyone looking to buy a business, keeping abreast of any winding up petitions issued is a good idea as they can act as a great first sign that a business may be heading for insolvency. Firms in this situation can offer great opportunities for investors.
View the latest list of winding-up petitions
The opportunity to acquire a bespoke, versatile all-day bar, café, and restaurant, offering locally sourced American and British-inspired dishes, including speciality coffees, classic cocktails, and live music evenings. The right investor could overs...
LEASEHOLD
An opportunity to acquire an authentic independent eatery, offering an extensive range of Mexican food in the form of burritos, tacos, nachos, naked salads, kids meals, burgers, fully loaded chips, ice creams, churros, and drinks.
LEASEHOLD
The unique opportunity for an investor to acquire a very well-established Com with a proven business model that has established a leading presence in the e-commerce smart-home sector. The company offers innovative solutions for clients to install a c...
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