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Closing a Limited Company with Debts?

Anderson Brookes Insolvency Practitioners help directors close limited companies with debt quickly, legally and with expert guidance every step of the way.

Understand Your Options Today

How to Close a Company with Debts - Director Support & Guidance

If your company is struggling with debt and you’re considering closing it, you’re not alone. Thousands of directors each year face the same dilemma. At Anderson Brookes, we understand how difficult this decision can be and we’re here to offer honest, regulated advice that protects your interests and keeps you compliant with the law.

Can you liquidate your limited company?

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How many people are currently working in the business?
Is your company still trading?

Closing a Company in Debt: What Are the Options?

When a company can no longer pay its bills as they fall due, or its liabilities outweigh its assets, it is considered insolvent. At this stage, you cannot simply strike the company off the register. Instead, a formal insolvency procedure is required. 

Compulsory Liquidation

This is where a creditor forces the company into liquidation through the courts. It is often more stressful and can carry more reputational and legal risk. We help directors take control of the situation before it gets to this point.

Creditors’ Voluntary Liquidation (CVL)

This is the most common route for directors looking to close a company with debt. It’s a formal process led by a licensed insolvency practitioner, where the business is wound up and any assets are used to repay creditors. Directors remain in control until the liquidator is appointed and, when handled properly, this route offers legal protection from further creditor action.

We can place a company into liquidation within 8 days!

Low cost and practical solutions for company directors who need to close their limited companies with debts. 

Why Directors Choose Anderson Brookes

With more than 25 years’ experience and thousands of directors helped, we’re trusted by business owners across the UK. You can speak directly with an expert insolvency practitioner and we’ll help you understand your options clearly and quickly. We specialise in working with small and medium businesses and we understand your perspective and priorities. 

Ready to
Move On?

If you’re ready to close your company, stop creditor pressure, or just want to understand your next steps, we’re here to talk. 

Call us now on 0800 1804 933 or request a call back - we’re here to help.

Director Responsibilities During Closure

If your company is insolvent, your legal duty shifts from protecting shareholders to protecting creditors. You must:

  • Stop trading immediately to prevent additional losses

  • Not move or hide company assets

  • Avoid paying one creditor in preference over others

  • Keep all financial records safe and accurate

  • Seek advice from a licensed insolvency practitioner as soon as possible

Failing to meet these duties can result in serious consequences including disqualification or personal liability for company debts.

Speak to us today

“From the first call I received from Anderson Brookes I was very impressed with how friendly and professional they were. I agreed to take them on to liquidate my company and very pleased with my decision. All done and dusted in very quick order.” Lynne Bull

Lots more testimonials below. 

What If the Company Has No Assets?

You can still close an insolvent company through CVL even if there are no assets to sell. In many cases, directors can personally fund the low-cost process or may be eligible to claim director redundancy to help cover the costs. We’ll talk you through all your options.

three women sitting beside table

Support from a Licensed Insolvency Practitioner

Only a licensed insolvency practitioner can lead a liquidation. At Anderson Brookes, our in-house team works directly with company directors to explain every step and manage the entire process. No pushy sales, no third-party handovers. Just honest advice and regulated support.

Take the First Step

If you’re worried about your company’s debts, the best thing you can do is speak to someone. We offer free, confidential advice to help you understand your options and move forward.

Take action early and get the right advice from licensed experts who understand exactly what you’re going through.

Closing a Limited Company with Debts?

Fast and Stress-Free Solutions.

Start closing your limited company today. Placed into liquidation within 8 days. We fully understand that timing is critical.

Worried about your Bounce Back Loan?

Need to close your limited company? Speak to an expert who’s helped thousands do the same – even with company debts or creditor pressure.

Stop Creditor Pressure

Getting constant calls from creditors? Closing your company through liquidation can give you the relief to move forward.

Directors: Avoid Risks When Winding Up Your Company

We guide you, simply, honestly. Let us handle everything.

Steven Kendall-Torry
Steven Kendall-Torry
Having to shut down your business is a very emotional and scary journey and although you think you’ve done everything correctly there’s always something you get wrong , small print , and rules one is unaware of which can surprise bite you on the bum and ruin your day ! We were fortunate to have Laura , Katie and the background Riki who considering they have a fairly thankless job to do they were always polite , very patient , and as helpful as they could be considering they generally were giving bad news which was rarely expected or welcome. Altogether they were good listeners and helpful we had to understand they still had to follow rules and a job to do and they managed the balancing act extremely well. Many thanks
Madeleine Cole
Madeleine Cole
We had the unpleasant, highly stressful experience of being the Directors of a business that was beyond help, despite our best efforts. Jon was absolutely brilliant, going way above and beyond. Not only was Jon a professional, knowledgeable person helping us go through the process of a liquidation, but he was also a safe pair of hands, and an empathetic voice to discuss even the tiniest detail with. He never rushed us, he used language that we understood and he was an excellent communicator. Jon made a very stressful, upsetting time feel manageable and in control.
Harvey J
Harvey J
Efficient and Professional Experience Two words to describe the experience: efficient and professional. No doubt you can appreciate that it’s a very stressful time for directors, but from my initial telephone conversation with Mike, and the decision to enter into a CVL, the process from start to finish was completed within two weeks. In addition to Mike, I would also like to mention the professionalism of the two other members of the AB team, Steve and Emmy. Worth mentioning as well that, where it was possible, the lines of communication were via WhatsApp which again massively improved and streamlined the whole process.
Derek Clarke
Derek Clarke
It has become very unfortunate that the company has had to go into administration. Anderson Brookes have bee efficient, reactive to our needs and totally communicate every step of the way. The experience whilst personally been painful to have to make such a decision, the company dealing with these affairs have acted professionally and been responsive to our questions.
Vie Sidibe
Vie Sidibe
Great service. I wish I got in touch earlier. I'm finally getting some proper sleep. Thank you to Emmie and the team 🙏
Andrew Colley
Andrew Colley
With the help of Anderson Brookes I now have a massive weight of my shoulders. They were very helpful from start to finish.
Lynne Bull
Lynne Bull
From the first call I received from Anderson Brookes I was very impressed with how friendly and professional they were. I agreed to take them on to liquidate my company and very pleased with my decision. All done and dusted in very quick order.
Ray Gowrie
Ray Gowrie
First Class Company,Friendly, Knowledgeable, Caring, Most Helpful And Give Great Peace Of Mind. They Took All The Worry And Weight Off My Shoulders And Gave Me Great Peace Of Mind To Let GoOf My Problem. thank You Ever So Much Rebecca Marsden And Her Team.
Andrew P
Andrew P
They are amazing in what they do, affordable fees compairing to other brookers, helped me with a LTD insolvency, i am over the moon with their services, would highly recommend. They are really knowledgable and straight forward.
Lewis Beaumont
Lewis Beaumont
Amazing company who conducted our liquidation very thoroughly and professionally, I was fortunate enough to have Jon Rudd as my case manager who helped me every step of the way. Highly recommended and a big thank you to you Jon!
Jaspreet Singh
Jaspreet Singh
Mr Rikki Burton and team are very professional, efficient and patient. The work conducted was very smooth and the transition Was without any hiccups. They gave time to put evidences upfront to support the liquidation. Great communication and highly recommended.
Luke Singleton
Luke Singleton
I used Anderson Brookes when I got into bother with my ltd company. After getting other prices and talking with different companies I felt happiest with these. Great service helped throughout and any questions I had (I had a lot) they were more than happy to answer and put my worries at ease. Top marks thank you to everyone that has helped
James Cockney
James Cockney
I was assisted every step of the way by Rebecca and her team. Eddy was very helpful through the entire process. I would highly recommend Anderson Brookes to anyone going through a similar situation to me.

Contact us today

As licensed insolvency practitioners, we provide regulated business debt advice and support for company directors.