Hi Company 1,
First of all I want to sympathise with what you are going through. It is a very worrying time. I don't whether your business is viable or not, all I can speak about is my own experience.
I went through a liquidation 8 months ago. I was so stressed leading up to it but once I made the decision it got alot easier. I didn't need to appoint a solicitor, just a liquidator. The liquidator contacted my creditors on my behalf and took everything from there. Over night the calls looking for money stopped. The liquidator paid himself out of the sale of the remaining assets. I would strongly recommend contacting a liquidator as soon as possible and going through the options with them. They are the experts and take everything out of your hands.
With regards your bank loan, if you do liquidate, call them and let them know. They will agree to reduced payments over a longer term and a moratorium for a few months. They did for me. The last thing they want is to take your family home.
You are entitled to social welfare. I thought I wouldn't be but I was. See the many threads about it on this board.
Best of Luck,
DP