As the Director of a limited company, it is a relief to know that you are able to put your company into Voluntary Liquidation and make a fresh start, putting the past well and truly behind you.With the right Liquidator, support and advice, Voluntary Insolvency can be an ideal way to close a company that has just got too much debt to carry on effectively.The company also said on its website that it was acquired by Camping World Holdings Inc. Gander Mountain said that means it will continue to be a part of the “specialty outdoor market,” though it did not detail how that would happen.
There has been a high volume of bankruptcy filings over the last three years of the economic downturn and they do not show any signs of letting up.
Whether it is Hostess Brands—with the future of Twinkies at risk, the prospect of iconic Kodak in the Bankruptcy Court or AMR Corp.’s flight into Chapter 11 reorganization.
Yet it is much more likely to be just a blip in your life.
Liquidation allows you to bring an Insolvent company to an end.
The Staff of the SEC’s Division of Corporation Finance has issued a number of no-action letters, including REMEC Liquidating Trust (Mar.
23, 2011), granting relief from the registration and reporting requirements for liquidating trusts.
While no-action relief granted by the Staff to other parties and with respect to certain facts and circumstances form all or part of a persuasive argument for like treatment in similar fact situations, the grant of no-action relief by the Staff does not represent an official action by or on behalf of the SEC Commissioners.
No-action relief granted by the Staff may only be relied upon by the party that submitted the request, based on the particular facts and circumstances, and otherwise may only viewed as setting forth views of the Staff (PDF).
Gander Mountain, a popular gun and hunting store, announced it is going out of business and liquidating all of its stores nationwide.
The company filed for bankruptcy in March, and announced at the time it would close 32 under-performing stores, including a location in south Charlotte.
: In bankruptcy proceedings, there are still securities laws considerations.