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The owner facing such an appraisal, however, must brace him- or herself because prices named will seem extraordinarily low.
If an experienced firm has been engaged, it will be low-balling the assets but accurately valuing them in the current market.
Human nature and reason tend to conflict in such situations, as owners hang on for dear life in the face of clearest evidence and lottery-like odds.Vendors and customers must be notified after the layoffs are accomplished. Finally, the owner should take his or her own inventory before third parties become involved.People entering the twilight zone of liquidation will discover it is populated by an entire industry little suspected to exist.A business liquidating voluntarily and in an orderly fashion will almost always discover that its creditors, customers, and vendors will be cooperative. If in the midst of such a process the miraculous turn-around event actually takes place, reversing course will also be easier.Once a decision to liquidate has been reached, the business needs to be closed, employees discharged, and company assets must be secured and inventoried.