Document background
A Letter of Intent Closure of Business is a crucial document in the process of winding down business operations in England and Wales. It's typically used when a business has made a definitive decision to cease trading but needs to formally communicate this intention before initiating legal closure procedures. The document should be prepared in accordance with UK company law requirements and serves multiple purposes: it informs stakeholders of the intended closure, outlines preliminary plans for addressing various business aspects (employees, assets, contracts), and helps establish a framework for the formal closure process. This document is particularly important for ensuring transparent communication and managing legal obligations during the closure process.
