Liquidation Centre

Liquidation Centre: limited company liquidation in the UK

Liquidation Centre is an insolvency practice that is part of Exigen Group and presents itself as a provider of liquidation services for limited companies across the UK. The firm emphasises that it does not act as a broker or intermediary, but as a practice with fully licensed and regulated insolvency professionals. It has more than twenty years of experience in liquidations, according to its own presentation.

Its activity is aimed at companies that need to close a limited company, whether insolvent or solvent. The firm states that it has guided thousands of companies through this process.

Types of liquidation it handles

The service is organised around the two main voluntary routes and other insolvency procedures:

• Creditors' Voluntary Liquidation (CVL): aimed at insolvent companies that are trading at a loss, cannot pay their debts, have more liabilities than assets, or have ceased trading due to outstanding liabilities.
• Members' Voluntary Liquidation (MVL): for solvent companies that are no longer needed, with net assets over £25,000, at least 24 months of trading, and a wish to close in a tax-efficient way, for example due to retirement or returning to employment.
• Solvent liquidation and asset liquidation for debt repayment.
• Compulsory liquidation and HMRC liquidation.
• Insolvency support and acting as an insolvency practitioner.

Company profiles it targets

The firm states that it works with most businesses, and expressly mentions hotels, salons, restaurants, construction companies, retail businesses, and e-commerce companies. Common reasons for enquiry include inability to pay debts, trading at a loss, retirement, or returning to employment.

Working process

The journey described by the company is structured in three steps: an initial contact to explain the situation, a session with an insolvency practitioner who analyses the case and explains the options, and the client's decision to start the procedure with support throughout the process. The firm states that its express process allows the company to enter liquidation in around ten days.

The company also details the formal mechanism: shareholders can agree to the liquidation by passing a special resolution at a meeting and appoint a liquidator; then a decision procedure is held with the creditors, who approve or not the choice of liquidator.

Frequently asked questions and alternatives

Among the issues it addresses, it explains that the liquidator seeks the highest possible price for the assets through independent valuation and sale to the highest bidder, and that the company's directors can buy back the assets if they submit the highest bid. As an alternative to liquidation, it mentions strike off, with a £10 fee from Companies House, although it points out that in that case income tax is paid on the net assets; if these exceed £25,000 after settling liabilities, an MVL is usually more tax-advantageous.

Informative content

The website maintains a space for updates and guides on business failure, VAT or tax defaults, Bounce Back loans, closing and dissolving companies, administration versus liquidation, company voluntary arrangements (CVA), and HMRC debts, among other topics.

Location and contact

Warehouse W, 3 Western Gateway, London, GB