Contrary to Limited Liability Company, business owner of Unlimited Company has unlimited legal and financial liability of the business.

If the unlimited company is a Sole Proprietor business, the sole owner takes up all risk.
If the unlimited company is a Partnership business, each and every partner is jointly and severally liable. Generally, this means you may be liable to your partner's action in doing partnership business.

The worst financial consequence of a Limited Company is winding-up of the company. Shareholders have no financial risk other than their investment shares as long as they are acting in good faith.
However, the worst financial consequence of Unlimited Company is bankruptcy of business owners.