How do you shut a business down?
When a business fails, what should the owner do? What steps should they perform, to ensure all concerns are handled in an acceptable timeframe? There are plenty of guides on starting up, not so many on what to do when a business fails to ensure legal, financial, etc. concerns are addressed.
I think the advice given completes the question. I realize this may not be your business but advice you are giving another. Feel free to contact me directly, but to oversimplify a summary - close all open agreements in writing, calls are courteous, letters are legal. Consider the real posibility that you and the company are the same entity if you did not fully keep a legal seperation. Depending on the complexity, an attorney can guide you regarding your personal liability and bankrupcy.
Close your books, notify your local government by filing your taxes. Have your accountant and or attorney help you with the completed closing to ensure you don't owe any future taxes or penalties for not filing properly also to ensure you don't pay something you aren't responsible for. Most businesses close due to lack of capital, don't make promises to pay or make things right with vendors or employees for that matter. Sounds bad but you have to make care of you.
Steps are simple: (1) advise remaining customers, (2) file final tax returns, and (3) have your accountant advise local, state, and federal authorities that you have gone out of business.
First question to you is: what is the financial condition of the business.
Are there outstanding debts that will not be able to be paid?
Have you personally guaranteed payment on any accounts (you likely have)?
Some things like taxes you are personally responsible for regardless of whether you explitly agreed to pay them.
Once all of that has been resolved it is pretty simple. Notify vendors (especially landlords, insurance companies, utilities etc.) you are closing up. Notify taxing and other regulatory bodies that you are closing.
Need to make sure you accountant checks the final return box on tax returns and then file articles of dissolution with your secretary of state.
The steps are really pretty simple, but it will require a lot of "legwork" on your part.