As a company director, you have the discretion to sell your limited company, no matter its financial situation. Fast Business Rescue offers the perfect solution to facilitate this exit strategy. Our process is designed to be quick and efficient, often completing within 48 hours (depending on your responsiveness). Below, we’ve outlined the simple steps involved in this seamless process.
To be eligible for this solution, your company must have unsecured debts exceeding £10,000, and it should not currently be involved in any insolvency proceedings through an insolvency practitioner.
Insolvency doesn’t just mean financial hardship—it often brings investigations into how your company ended up in distress. For directors, this can lead to uncomfortable questions and scrutiny over financial decisions. Fast Business Rescue offers a legal solution to avoid the headaches of insolvency by providing a quick and compliant way to sell your business.
Once your company is sold, the new owner assumes all liabilities, including bounce-back loans, supplier debts, and unpaid HMRC obligations. This allows you to avoid the damaging consequences of insolvency and the personal stress that comes with it. If you’re worried about investigations or creditor actions, contact us today to learn how a business sale can offer relief and protection.
The introduction of new directors and shareholders, who are not familiar with the company’s historical practices, effectively avoids the scrutiny usually applied by Insolvency Practitioners. The new directors and shareholders can legitimately claim no knowledge of past misdeeds or financial mismanagement, eliminating the basis for probing questions about past operations. This is particularly relevant for bounce-back loans and other unsecured borrowings. Bounce-back loans, introduced as financial support during challenging economic times, represent a significant liability for many businesses. Avoiding detailed investigations into the acquisition and management of these loans is a key advantage of this strategy.
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