If an Insolvency Practitioner (see above) is appointed by creditors to take charge of a company he may well decide that the business can be saved by selling it free of debt in some manner - see Administration, CVA and Recevership above.
If he decides that the situation is totally hopeless he will sack all the staff and offer the assets of the company for sale via appropriate agents. The stock and moveable assets eg vehicles, machinery and so on may well be offered by auction. Real estate is likely to be offered for sale by industrial or commercial estate agents.
Bob Cory
Modified on 13/09/2019 at 13:58:19 by ℗ Bob Cory