This poses a challenge for you. Typically, insolvency fees start at £5000 plus VAT, depending on the complexity of the case.
Emerald will always look to secure the best market price.
If you find yourself unable to afford a licensed insolvency practitioner, there are alternative ways to fund a formal insolvency procedure. These options include selling business assets, collecting outstanding payments or setting up a payment plan.
It’s also important to note that UK law mandates that only a licensed insolvency practitioner can serve as a liquidator in any formal liquidation proceeding.