When someone says," the business has wound-up". What does it actually mean?
2007-03-20 21:49:17 · 5 answers · asked by underground 1 in Education & Reference ➔ Words & Wordplay
It's a technical legal expression. To wind-up a business means to close it down completely by collecting in all assets and paying all creditors and distributing any surplus. A limited company can be wound up by creditors (if it is in debt) or shareholders if it is solvent. Before this happens the company may go into administration or receivership to enable administrators/receivers to deal with all outstanding matters, which might take a long time if it was a large organisation.
2007-03-20 22:10:02 · answer #1 · answered by rdenig_male 7 · 0⤊ 0⤋
It just means that the business is closed for ever.
2007-03-21 04:56:31 · answer #2 · answered by sailajac 2 · 0⤊ 0⤋
Closing up the business or
business not viable to run and hence closing up the show.
2007-03-21 06:01:23 · answer #3 · answered by NQS 5 · 0⤊ 0⤋
business closed permanently (for ever).
2007-03-21 05:08:17 · answer #4 · answered by Kutty_21 4 · 0⤊ 0⤋
to wrap things up.close the things.
2007-03-21 04:54:04 · answer #5 · answered by Anonymous · 0⤊ 0⤋