Dissolving company - Virgin Media Contract

Savvy_Sue

berimbolo80 wrote: »

Actually it looks like you can strike it off yourself https://www.gov.uk/strike-off-your-company-from-companies-register/apply-to-strike-off.

One thing I don't get is do I need to pay off my contract first?

This is by no means my area of expertise, but ... from reading the posts above, it seems to me that if you want to shut the company down in an orderly fashion, you need to pay all debts associated with it first.

I am not the biggest fan of Virgin Media, however it would be worth phoning them and asking if there is any possibility of a reduction for early cancellation of services. If you're retaining their services elsewhere, that may be more likely than if you're hoping to wave goodbye completely - although I don't know if that applies to business / domestic connections.

We were able to cancel one contract early, but we were retaining a number of lines elsewhere.

HOWEVER, if they do agree to cancel the contract early, you need to check that they actually do so! We discovered that despite agreeing to cancel some lines and a BB connection, they failed to do so and continued to bill us.

Also it seems to take a month for them to do anything at all ...

Brassedoff

Ouch, I spy with my little eye someone about to have pain.

If VM is your only debt, pay them off. Do some final accounts and then pay your dues (go and read about directors roles and responsibilities in the 2006 amendment to the Companies Act 2006). Hopefully you will then think better of breaking the law.

If you believe you can set up a newco, run up debt. enjoy earnings then wind it up before the first year accounts. Think again, the OR is very wise to this and are taking tougher and tougher action.

Now, you have seen everyone's quite correct opinion, come back with a serious question and I am sure we will want to help you.

FatVonD

Is the supply to a premises that someone else is taking over? Would they be prepared to take over the contract?

antrobus

berimbolo80 wrote: »

Actually it looks like you can strike it off yourself https://www.gov.uk/strike-off-your-company-from-companies-register/apply-to-strike-off.

One thing I don't get is do I need to pay off my contract first?

Yes, that's what I mean by the procedures specified. Note what it says on form DS01 about;

Please ensure that you send copies of this application to all notifiable parties e.g. creditors, employees, shareholders, pension managers or trustees and other directors of the company within 7 days from the day on which the application is made.

What do you imagine Virgin's reaction will be when they receive notification of our intention to have the company struck off?

berimbolo80

Brassedoff wrote: »

Ouch, I spy with my little eye someone about to have pain.

If VM is your only debt, pay them off. Do some final accounts and then pay your dues (go and read about directors roles and responsibilities in the 2006 amendment to the Companies Act 2006). Hopefully you will then think better of breaking the law.

If you believe you can set up a newco, run up debt. enjoy earnings then wind it up before the first year accounts. Think again, the OR is very wise to this and are taking tougher and tougher action.

Now, you have seen everyone's quite correct opinion, come back with a serious question and I am sure we will want to help you.

Why are you assuming I made any earnings.
The company has lost money...I have lost money. Its basically insolvent but I would rather avoid having to go through the whole liquidation process and I imagine VM would rather avoid it as well given they will not receive anything as the company has NO assets.

mehera

It is fairly simple - you write to VM and tell them the company has ceased trading and is skint . ..

If the contract is in the companies name they will write it off in an instant!!!

I found I had signed trade accounts for my limited company which had clauses holding me personally responsible - you have to watch out for that one . . .