How to change a company that isn’t generating a profit ?

I got a call from one of my dad’s mate who’s name is Steve. He is the managing director in his business. He told me in the last 3 years, the company hasn’t generated any profit. He is reaching retirement and wants to sell out. He is telling me that his accountant told him that the business is worthless and should shut it down and just go fishing. He wanted a second opinion on the matter, so…