If you do not dispute the debt, the simplest option is to pay what you owe or negotiate an informal repayment agreement with your creditor. If you have multiple creditors, a formal insolvency procedure called a Company Voluntary Arrangement (CVA) could be a better option.
Alternatively, if your creditors are unwilling to accept a payment plan, you could explore other options, such as Company Administration or Pre-Pack Administration. These are only likely to be suitable if the underlying business is viable.
If the company is no longer financially viable and has no prospect of a recovery, initiating a liquidation yourself via a Creditors’ Voluntary Liquidation (CVL) could be in everyone’s best interests. That will usually lead to a better outcome than waiting to be forced into Compulsory Liquidation by your creditors.