What is Winding Up?

Winding up or compulsory liquidation is the act of forcing the closure of a limited company. This is normally against the wishes of the directors and/or shareholders and is initiated by one of the company's creditors

The process of winding up begins if the High Court in London grants the creditor's application for a winding up petition. If this happens, the company will be forced to stop trading and will be closed unless the petition can be successfully challenged.

If you have received a winding up petition or have been threatened with one, call us now to discuss your options and how to save your company Call 0800 8 40 40 42

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Pre pack Administration

  • Legacy debt written off
  • Creditor action stopped

Company Voluntary Arrangement

  • No additional investment
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  • No significant upfront investment required
  • Cash freed to run new business

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  • Creditor action stopped
  • Business can be restructured

Winding Up Advice question
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Bank account frozen and company trading put on hold

Once a winding up petition is granted by the High Court, it will be advertised in the London Gazette. At this point, legally speaking the process of closing the business has started.

This is a very serious matter. Once a winding up petition is formally advertised, the company's bank accounts will be frozen. The company is then not allowed to sell or transfer any of its assets without permission from the court.

If you have received a winding up petition or have been threatened with one, call us now to discuss your options and how to save your company

Call 0800 8 40 40 42


The directors of the company do have the opportunity to challenge a winding up petition at a High Court hearing.

The cost of this challenge will have to be paid for by the directors.

If such a challenge is rejected, the court will appoint a liquidator and the business will be closed.

The liquidator will make all employees redundant and sell the company's assets. They will also carry out an investigation of the company's directors to see whether they have been in breach of their director's duties, particularly involved in wrongful trading.

Any director accused of wrongful trading may be struck off the register of directors and held liable for the company's debts.

If you have received a winding up petition or believe that your company is trading insolvently, call us now to discuss your options and how to save your business

Call 0800 8 40 40 42