Company liquidation is a period of time that can be scary for some business owners in Hunters Creek. If it is your first time going through the process, there can be many tricky turns, pitfalls, and not to mention people out to make a buck off your hardship. But liquidating does not have to be all bad. By knowing the different types and by going with a reputable estate management group, you can come out ahead, and move onto your next big project, stress-free!
Wait, Company Liquidation Can Be Voluntary?
Yes, it is true that company liquidation has a negative connotation around it. Most people only think of it as a “gone bankrupt” kind of sale. However, that is not exactly true. While a group may be forced to sell off their assets to pay debts, it is sometimes wise to begin the process voluntarily. If a Hunters Creek enterprise cannot remediate its burdens through more traditional administrative approaches, they may want to convert products and supplies into cold, hard cash. By doing this, either through a third-party estate management group or by themselves, it may, in fact, save the business!
Liquidating when it is Less-Than Voluntary
Compulsory company liquidation is the term the average layperson is more familiar with — they see it all the time in these tough economic times. “Going out of business sale” or “everything must go!” That, however, is not the whole story, as it paints the situation in a negative light. There are many reasons why a big corporate chain or a Hunters Creek mom and pop shop might resort to compulsory liquidation:
- Pay off back taxes due (to the state or IRS)
- Not enough employees to justify a store being open
- Not enough sales in a location
- Not complying with statutory obligations
- Debts outweigh assets
As you can see, liquidating does not always mean that they ran their business wrong. Rather, it is the first step towards remediation and closure — towards a brighter tomorrow and new projects.
Go with a Service That Specializes in Liquidating
A small Hunters Creek mom and pop shop may choose to sell off their assets solo, but even if you’re not a megacorp, it is really recommended you go with an estate group that specializes in company liquidation. The reasons why are severalfold: first, it is much easier. If you are dealing with the stress of bills or having the taxman after you, the last thing you want to deal with is managing this process. Instead, use those leadership skills and delegate. Another useful reason is that these businesses make money off percentages. They are financially motivated to squeeze every last dollar out of every good, because that is a dollar they collect a humble percentage on. A third reason is that these groups are often central hubs, such as Orlando Estate Auction. They have people coming to them, which means they have literal as well as digital foot traffic, so there is a demand for your trades goods.
Orlando Estate Auction: Your Leading Liquidators
Whether you are someone casually looking at company liquidation or an owner who need it, hopefully you can see the benefits of going with a group. They’re faster, motivated to increase your earnings, and have literal bodies of people coming to them wanting products. If you are in need of this service in the Hunters Creek area, give Orlando Estate Auction a call at (407) 290-1000 today!