What a winding-up petition is
A winding-up petition is a request to the court to close a company down because it cannot pay its debts. Any creditor owed £750 or more that is not disputed can present one. HM Revenue and Customs is one of the most frequent petitioners.
Why it appears in The Gazette
The petitioner must advertise the petition in The Gazette before the hearing, so that other creditors can support or oppose it. The notice gives the court, the case number, the hearing date and the petitioner. That advertisement is the notice you see on a company page here.
What happens to the company's bank account
Once a petition has been presented, any payment the company makes can be declared void if a winding-up order follows. Banks usually freeze the company's accounts when they learn of the petition, often from the Gazette notice. In practice, a company with an advertised petition often struggles to pay anyone.
How it can end
- Winding-up order: the court closes the company and it enters compulsory liquidation.
- Dismissed or withdrawn: usually because the debt was paid or settled. The Gazette may carry a dismissal notice, which a company page here shows in green.
- Adjourned: the hearing moves to a later date, often while the company tries to pay.
What to do if the company owes you money
- Stop extending further credit until the petition is resolved.
- Be careful accepting a payment from the company: it could be clawed back if a winding-up order is made.
- Check your terms for a retention of title clause covering goods you supplied.
- You can tell the petitioner's solicitor you intend to appear at the hearing, to support or oppose the petition.