Company Liquidation: Are You Sure You Have Tried Everything Else?
Author: John Coorey
Finding that your business is in debt is extremely stressful. Creditors are awaiting payment, buyers are asking questions and staff are restless. It may feel like company liquidation is the only possible solution, but bringing trading to a complete end should only ever be a last resort. You should only consider insolvency if you are sure that there are no other ways to secure some instant cash flow. There may well be other options that will help you to continue trading.
Company liquidation stock can be bought by professional stock buying companies
Take the time to sit down and look at your current financial position. Look at where you have been successful and where you have not and think about ways of altering your business plan. Identify any stock that is not providing you with a good profit and consider selling it on wholesale in order to free up some cash to help ease financial pressure in other areas. Professional stock buying companies such as Coorey & Co will be able to give you a fast quote on how much money you can expect to get for your products.
Can Company liquidation stocks actually be a good asset?
When facing financial problems your excess inventory can be a huge asset and if you make smart decisions you could use it to create enough cash flow to ease the threat of company liquidation. The key to using your excess inventory wisely is acting fast. Once your company has gone into liquidation control of stock will be out of your hands and you will not have a say in how much it sells for. It is wise to think ahead and free up your assets before that happens. Again, professional stock buying companies will be able to act fast to realise the potential of excess inventory. Whether you have a single pallet or an entire container, stock buyers can help you to get the cash out of your assets.
Once you have sold your stock and have some cash flow in the business you need to act cautiously to ensure that you use it in the best way possible to avoid company liquidation. Spread your risk by looking around for new customers and suppliers should your current contacts book let you down. Make a list of people who you could approach and do some research on what kinds of things they have been buying recently. Pick your products accordingly.
Or course, if you find yourself facing company liquidation you should consider taking professional insolvency advice early from a licensed Insolvency Practitioner. They will be able to study your business and advise you on your best course of action, but understanding your assets and how to turn them into cash flow is a great first step.
Contact us to sell your Company Liquidation stock
If you would like to sell your company liquidation stock to us, contact us and let us know your excess stock details.
Author: John Coorey
Managing Director
Related articles:
- Click on this link for tips to sell your excess inventory
- Bankrupt stock requires a different process to sell. How to sell your bankrupt stock
- If you are overstocked or have overstocks then this article can also help.
- Here’s some more reasons why you should sell your company liquidation stock before you become insolvent
If you prefer things in a summary format, we’ve summarised this company liquidation article as a Slideshare below.