The key difference is whether the business is insolvent: in simple terms,insolvency means the business cannot realistically meet its financialobligations. If your company has debts it cannot pay, liquidation isusually the correct and legally compliant option.

If your company is entering liquidation, one of the first concerns is what happens to the business assets. Many directors ask whether they can keep or repurchase equipment, stock, vehicles or even the brand name to start again. This guide explains when and how directors can legitimately buy assets back from a liquidator.

Yes, you can buy back and reuse your company name after liquidation, but you must follow strict legal procedures under Section 216 of the Insolvency Act 1986 to avoid personal liability and prosecution.

When a company cannot afford redundancy, employees and eligible directors can claim statutory payments from the government’s Redundancy Payments Service, funded by the National Insurance Fund.