Yeah I’ve not heard of a wind up procedure either

So I offered to lend them money if they were going bankrupt. They refused and so in the UK creditors are legally allowed to issue a "wind up" order forcing the company into bankruptcy if they fail to pay the creditor within a reasonable time. This is the UK government information on it:

GOV.UK

Wind up a company that owes you money

How to issue a winding up petition - forms and fees to wind up a company to recover any money you

Are you legally considered a creditor though? That's the crux of the matter. From a monetary perspective 100%, but from a legal perspective, aren't you just considered a client?