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The Process of Voluntary Liquidation

When well-planned and soundly executed, most businesses tend to perform well. However, either due to mismanagement or economic factors, businesses sometime fall into hard times. Sales decline to the extent it barely covers or does not cover even the wage bill. Cash reserves are used and reduced to zero. When all management efforts fail to revive the business, rather than let it bleed, voluntary liquidation is the best legal option.

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