Dealing with your limited company's debts
1. If your company can't pay its debts
Your limited company can be liquidated (‘wound up’) if it can’t pay its debts.
The people or organisations your company owes money to (your ‘creditors’) can apply to the court to get their debts paid.
They can do this by either:
Get professional advice from a solicitor or insolvency practitioner if your company is in debt.