Simple Liquidation

A phoenix company is a new company that emerges from the liquidation of an old one, often carrying on the same or a very similar business. The term “phoenix” comes from the mythical bird that is reborn from its own ashes. When a company faces financial difficulty, liquidation can sometimes feel like the end of the road. However, in certain circumstances, directors may have the opportunity to start afresh with a new business that rises from the ashes of the old one. This is known as a “phoenix c