Bringing a business to an end can be difficult, but company liquidation can provide a much-needed sense of resolution. Knowing who to call when you need these services can prevent potential ill-will and speed up the process. In a close-knit community like Azalea Park, it’s important to find a service that you can trust to handle these affairs with expertise.
Who Initiates?
Various individuals can initiate the process of company liquidation. The process is either compulsory or voluntary.
- Compulsory. For this process to begin, one must have an order or petition and sufficient grounds. Most often, the petitioner is a creditor of the business, but those within the corporation itself are also capable of petitioning for dissolution.
- Voluntary. An enterprise that wants to pay off outstanding debts will typically volunteer to dissolve their assets. Companies often elect to follow this method to avoid the serious consequences that come from being petitioned.
No business in Azalea Park wants to face bankruptcy, so it is important that these services are prepared for before they are necessary.
Who Makes the Call?
Once a company liquidation method has been decided on, the official receiver must be brought in. In smaller towns like Azalea Park, the appointed officer is often a civil servant. The liquidator will take inventory and then sell the items for the business. Sales are the most well-known method of dissolution, but auctions are much more efficient and beneficial for many reasons, including:
- No goods are left unsold. Everything goes by the end of the event.
- Equal opportunity. Auctions don’t operate on a first-come-first-serve basis.
- Less waiting. Sales last until all items are sold, which can take weeks or months. Auctions are over when everything is sold as well, but the auctioneer does all the work for you at a gallery; all you have to do is sit and wait for your check to be delivered to you.
- Higher value. Market price is determined by bidders, creating a higher value. At a sale, a customer may come, find something, and buy it for a low price. At an auction, multiple individuals bid on an item at the same time, which means it will ultimately sell for more than it would at a sale.
Company Liquidation in Azalea Park
If you are undergoing a company liquidation in Azalea Park and need auction services, Orlando Estate Auction can help. We firmly believe that auctions are the most beneficial method, and we are dedicated to providing professional, efficient and ethical service to all our clients. Call (407) 290-1000 today to learn more about how we can help you with your dissolution needs. From start to finish, Orlando Estate Auction is here for you.
