Turning assets into cash is typically done in order to pay off a variety of debts, depending on investments made into the business by creditors, or loans taken out in growing the business, for example.
Choosing liquidation converts the business assets to cash, which is then used to make these payments.
I made mention of something that I liked about his website, and we brainstormed further.
“Oh, that’s what’s called a ‘self-liquidating offer.'” I asked him to explain further…
A liquidation marks the official ending of a partnership agreement.
To end the partnership, the parties involved sell the property the business owns, and each partner receives a share of the remaining money.