Are you closing your business’s doors? If so, you aren’t alone. Each year, thousands of businesses in the United States are forced to shut down due to economic hardship or other circumstances. However, many business owners may feel lost dealing with closing, and they may even avoid the process altogether, which could push them to take on more debt.

If you are a business owner who is planning to shut your business for good, there are several services you’ll need to manage all of your assets. Here are three types of individuals or organizations you may work with to make the process run as smoothly as possible.

Attorneys
When you close your business, there is a good chance that you will need to work with a business attorney in order to ensure that you comply with the law. If you have declared Chapter 11 bankruptcy, as well, a bankruptcy attorney is necessary to help you liquidate your assets.

Business Asset Management
Businesses are about more than just their brick-and-mortar locations. In order to keep a company afloat, business owners usually have other assets, including stocks, bonds, and other investments. Using a business asset management service is crucial when you make the decision to close your business. It is especially important to find one that deals in collateral and can ensure that your payments are made to debtors. During this time, a business owner may consult financial advisers, accountants, and other professionals who deal in business asset management, too.

Business Auction Services
Finally, many businesses have physical assets that need to be sold off once they close their doors. Using auction services for live and online auctions can help businesses sell off their equipment, supplies, and merchandise in a timely manner. Online business liquidation auctions are especially convenient because they remove time constraints and could allow for more high-priced bids.

Have more questions about closing your business? Be sure to speak with an attorney first. Then find qualified asset management and auction liquidation services in your area who can help you through this difficult time.