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4 Quick Steps Towards a Fruitful Liquidation of a Company

October 13, 2020

When business isn't looking so good, it's time to cut your losses and try to work to keep your gains. However, you may feel that performing a liquidation of a company is a tedious process but it can actually be a straightforward process if you just follow these four quick steps towards a fruitful liquidation - furthermore, it involves minimal legwork too. 

Here are our 4 key tips: 

Obtain All Necessary Permits

Businesses can execute the liquidation of a company manually if they have no liabilities -- however, bankrupt corporations must apply for bankruptcy, which will involve a property executor that oversees the overall company asset liquidation to repay a company's debtors or shareholders. All businesses can invoke the Canada Business Corporations Act (CBCA) to liquidate their business at will. 

Inspect Your Facilities and Equipment For The Last Time

Before you close your facility, have your employees check and record every equipment, tool, and device. It might take a week or two to perform. In doing so, you can assess the facility and equipment state before appraisers and restoration technicians head in to inspect and assess their value. 

Call Appraisers and Restorers To Improve Your Existing Equipment

Professional appraisers and restorers can determine the final value of your facility and equipment. Furthermore, restoration technicians can maximise the value of equipment, tools, and devices. In doing so, appraisers can provide a higher rating for your items thanks to their lengthened lifespan and proven performance. 

Use a Dependable Asset Liquidation and Auctioning Company

If you're having difficulty finding exceptional asset liquidators and dependable professionals, you can count on auctioning companies to handle them. They often work with exceptional appraisers and technicians and you’ll find that you won't be doing much of the work to execute a successful liquidation of the company.

You Won't Have To Look Far To Find a Dependable Auctioning Company

Infinity Asset Solutions has been providing top-notch auctioning services for over a century. If you require support with the liquidation of a company, contact us today to learn more about how we can help you sell your property the best way possible.


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