Winding Up (Going Out of Business)
Winding up is a business phrase referring to the final steps a business entity takes to cease operations, comply with all financial obligations and distribute the final profits to the remaining owners.
Winding Up
Winding up is a term used in business (most commonly found in partnership and membership agreements) and refers to the process of closing a business operation. It includes three major steps, physical termination, a full accounting, and final distribution to owners of remaining proceeds.