The process for liquidating a company involves appointing a licenced insolvency practitioner to act as the liquidator. The liquidator will then sell the company's assets, pay off any outstanding debts, and distribute any remaining funds to shareholders. The company will then be dissolved and removed from the Companies House register. There are two types of liquidation: voluntary liquidation, initiated by the company's directors or shareholders, and compulsory liquidation, initiated by a court order.