Thanks for your patience. So this is a rolling contract which automatically rolls over for a new term unless cancelled with the specified notice. In certain consumer cases such rolling contracts have been deemed illegal and are banned. However, assuming you are a business customer and were using their services for business purposes, you will not be subject to the usual consumer laws and protection that individuals get, such as unfair contract terms. It is assumed that as a business you are well informed and able to read a contract given to you and understand the clauses you are signing up to. The law is specifically aimed at consumers, meaning someone not dealing in the course of a business. Therefore, you will be bound by this clause and failure to follow it will potentially place you in breach of contract. So if you renege on the contract they could pursue you legally for damages.
Whilst you may have changed the status of the entity you had entered the contract with initially, what is likely to have happened is that the new entity would have replaced the original one on the contract, assuming that you continued to use their services throughout.
However, they are not entitled to the full amount of their service until the end of the contract. They are entitled to compensation/damages which is their loss of profit. So it would be the actual profit they may have made, not the direct cost of services to you. This will be less than the fees you would have had to pay for the remaining term. You can try and cancel the contract and send them a cheque or payment and tell them it is in full and final settlement of the fees you would owe them and if they cash or accept that payment then you can argue that they cannot claim further against you. At least try that, you have nothing to lose. I they reject that and wish to continue pursuing you there is nothing stopping them from doing so and even going to court. However, they would have to justify that hat they are after is fair and reasonable and also it may not be worth their time going to court for the amount they may be pursuing you for so you could take your chances in that respect.
I hope this has answered your query. I would be grateful if you could please take a second to leave a positive rating by selecting 3, 4 or 5 stars - this is an important part of our process and recognises the time I have spent assisting you. If you still need me to clarify anything else, please get back to me on here and I will assist further as best as I can. Thank you