A DALGETY Bay company is set to collapse after a winding up order was submitted to Dunfermline Sheriff Court.

A petition for Ashford Group Ltd to be wound up and a liquidator to be appointed was presented on May 17 on behalf of His Majesty's Revenue and Customs.

It's listed as a financial services holding company.

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A public notice says any parties claiming an interest in the firm, which is registered at Letham Farmhouse on Farmstead Road, should contact Dunfermline Sheriff Court, 1/6 Carnegie Drive, Dunfermline, KY12 7HJ within eight days of intimation, service and advertisement.

Liquidation is the process of closing a limited company, selling the assets to pay off debts and dissolving the company from the official register at Companies House. 

In short it will stop doing business and employing people.

In general terms liquidation is the process a company faces when there are cash flow problems and creditors are threatening to take enforcement action.