Start Liquidating business assets

Liquidating business assets

Setting up an auction for all your assets takes time.

Delivery takes additional time, especially if the assets are large.

However, placing specific assets on an Internet auction site takes only a few moments.

You'll still have to take photos and write a description, but you'll receive funds immediately after the auction ends.

Landlords may be interested in buying your small business's onsite assets if it's a restaurant, bakery or food preparation business.

The company won’t exist once it’s been removed (‘struck off’) from the companies register at Companies House.

When you liquidate a company, its assets are used to pay off its debts. You’ll need a validation order to access your company bank account.

Talk with your accountant about the tax implications of any asset sale. Any asset that has been pledged as collateral for a loan must have the loan paid off before title transfers.