Closing down a business is almost as difficult as starting one. Apart from the obvious distress of your company closing down, there are so many logistics that you need to manage that it often becomes quite a nerve-wracking activity to do. Once you have decided that staying afloat is no longer an option, it is time to start handling things for the imminent closure of your business.
The first thing that you will need to do is let your clients know that you will no longer be able to provide services to them. Since your clients are your prime assets, it is their right to know what has happened, and how you intend to save them from the problems that they might face, when you close down your business. Write to them in a formal manner to provide them with details about the closure, and what it means for them. You will need to use an apologetic tone and provide assistance as best as you can, so that your last impression on your clients is not a negative one.
In your letter, provide some details of why you are closing down, including the last operational day.
Business Closure Letter to Clients
Emmet Gilbert, CEO
Pearson Financial Services
120 Willingate Road
Fairport, NW 14450
Tel: (000) 854-1241
Email:
September 21, 2016
All Clients of Pearson Financial Services
Dear Clients:
We are writing to inform you that Pearson Financial Services is unfortunately going out of business. As a result of this decision, we will not be opening any more accounts or providing additional services on existing accounts. However, all financial transactions in your accounts will be carried out as scheduled, until the last business day.
Owing to NYSE (New York Stock Exchange) crashing 10,000 points between 2014 and 2016, we have experienced diminished business from our institutional clients, which is why it is now becoming difficult to breakeven. Also, the fact the stock exchange is in a limbo at this point in time due to the political upheaval in the country, adds to the instability of NYSE in the near future. In view of these issues, we have no choice but to close down all brokering services – the maximum that we may be able to stretch them is the end of October 2016.
We request you to contact the accounts department immediately for any outstanding payments (on either end) and pay / receive them as per the policies of the company. Please ask your trader for details of your share holdings and last transactions for your reference. We would appreciate it if you would provide us details of a depository account where we can shift your holdings as soon as possible.
Thank you for the business that you have provided to us over the years. We appreciate this liaison and wish you all the best in your future connections with the stock exchange.
Sincerely,
(Signature)
Emmet Gilbert