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Company Liquidation in the USA

Company Liquidation in the USA

Company liquidation in the USA is a rather complex process that can be supervised by one of our specialists. Our company formation agents in the USA can help clients in closing a company in the USA and explain all the formalities. We invite you to read the following lines and learn more about this topic.

How is a company closed in the USA?

Those who want to close a company in the USA can make this decision after analyzing the business direction of the company in question. While some entrepreneurs recover after business reorganization, others prefer winding up the company in the USA. Here is some information about company liquidation in the USA:

  • A liquidator is appointed for winding up a company in the USA.
  • An accountant can prepare documents with information about company assets before the liquidation of the company.
  • It is important to pay all debts before closing a company in the USA.
  • Company assets to liquidate are analyzed, in the first phase.
  • Collaboration contracts with providers are concluded.
  • Buyers are being sought for business assets of the firm owned in the USA. A professional auctioneer is recommended in this case, as well as a business broker.

It is recommended to hire a company or a team of experts in the field to initiate the company liquidation process in the USA. Here, you can collaborate with our US company formation agents and learn more about the process of company liquidation in the USA. We are also full-service and available to those interested in starting a business in the USA.

How is the court involved in closing a company in the USA?

The liquidation process may start with voluntary bankruptcy and a series of documents that must be presented in a court of law. Here, the Bankruptcy Court must analyze the company assets and the way in which they are sold to settle debts. As for creditors, they have no major role or involvement in company liquidation in the USA. But they will wait for the court’s decision and the liquidation of the company in question for the debts to be paid. We remind you that we can help you set up a company in the USA, but also liquidate a company if you are interested in this.

Filling the Articles of Dissolution

When opening a company in the USA the Articles of Association are drawn up. On the other hand, when closing a company the Articles of Dissolution are drafted. The latter must include information about:

  • the reasons for company liquidation in the USA,
  • who decided to wind up a company in the USA, as well as the signatures of those involved,
  • company assets and their sale to settle debts,
  • the date on which the process of liquidation of a company in the USA begins.
  • the fact that you can collaborate with one of our local specialists can only be beneficial for winding up a company in the USA because they know all the formalities. Besides, we are also here if you want to start a company in the USA.

Statistics about companies in the USA

Below are some statistical data about companies in the USA:

  • The US Chamber of Commerce announced that there were over 33 million small businesses in the USA in 2022.
  • More than 5 million companies were registered in the USA only in 2022.
  • In the USA, over 20% of new companies close their doors after only one year of activity.
  • Around 34% of the companies registered in the USA manage to reach the threshold of 10 years of activity on the market.

In addition to assistance for winding up a company in the USA, our experts can help you with other things. For example, we can assist clients in opening a branch in the USA. Also, we are here for those who want to start a company in Delaware. Here setting up an LLC in Delaware can be an optimal choice. Whatever the case, we invite you to contact us and learn more about USA company formation and related matters.