In the UK, if you want to close a company you must do the same (pay ~£300 to post notice in a paper that your company is closing).
I think the idea is that anyone who the company owes money to can file a claim before any remaining funds are distributed.
Of course there are much better and more cost-effective ways of doing this (even pre-internet). It’s just absurd rent-seeking by unproductive leeches on the economy as far as I can tell.
It's not a notice in just a paper. It's a notice in the paper of public record. Which in the UK is the London Gazette, that you are almost certainly never going to see in a newsagents. There are laws requiring notices in that publication, and IIRC it's still government owned.
They publish notice of all laws, all insolvencies, all changes of name, new holder of certain public offices etc. I don't think there is any news or anything beyond the UK.
I bet it would be 5x more if you had to take out an ad in the Times or Telegraph. :)
I think the idea is that anyone who the company owes money to can file a claim before any remaining funds are distributed.
Of course there are much better and more cost-effective ways of doing this (even pre-internet). It’s just absurd rent-seeking by unproductive leeches on the economy as far as I can tell.