The aim of this dissertation is to explore and explain the concept of termination of companies. In order to better explore termination and the reasons that lead to the same, it is needed first to meet with the general terms and definitions that characterize the companies. A company as a legal creation has a beginning and an end. Some companies exist shorter, some longer, and their duration usually depends on the willingness of members of the society and the will of creditors. This is why the will of creditors and members of society, ie, their interests are the focus of interest in the case of termination of the company. For the protection of the aforementioned interests legislator is particularly interested and in this regard stipulates the reasons and ways of the termination of the company. In addition, public interest in preventing the operation of those legal persons whose actions threaten the common good of the community is very important. Special emphasis in this paper is placed on the cessation of companies going bankrupt.