Financial or operational difficulties are a common occurrence for businesses during their lifespan. While some may face minor setbacks, such as delayed payments from creditors, others may encounter more severe issues that can push the company towards insolvency.

Our experienced team of business recovery professionals will work alongside you to advise on a range of corporate recovery and insolvency processes, depending on your financial position.

These options include:


Administration is a formal insolvency procedure designed to protect a financially distressed company while maximising the return to its creditors. It is often used as an alternative to liquidation or bankruptcy and aims to rescue the company as a going concern or achieve a better outcome for creditors than an immediate liquidation would. It is a powerful process for gaining control and placing a moratorium around the company; stopping all legal actions.

An Administration is a flexible insolvency procedure aimed at providing a lifeline to struggling companies. It allows for the business to continue trading whilst various restructuring options are explored, with the goal of preserving jobs, maximising creditor returns, and ensuring the company’s ongoing viability, if possible.

Company Voluntary Arrangement

A Company Voluntary Arrangement (CVA) is a formal legal agreement which allows a financially distressed company to reach a compromise or arrangement with its creditors regarding the repayment of debts. This arrangement, typically running between 3 – 5 years, is overseen by a Licensed Insolvency Practitioner and requires approval from a significant majority of the company’s creditors.

If the CVA is approved, the company can continue trading as usual, using its earnings to pay existing debtors.

Compulsory Liquidation

A Compulsory Liquidation is initiated by a court order when a company is unable to pay its debts and is considered insolvent. Commonly called ‘winding up’, it is usually the last resort of a creditor to get paid.

A Liquidator is appointed to oversee the process and sell the company’s assets to repay creditors.

Creditors’ Voluntary Liquidation

A Creditors’ Voluntary Liquidation (CVL) is a formal insolvency procedure which involves the directors of an insolvent company, shareholders, or creditors voluntarily choosing to bring the business to an end due to financial difficulties or insolvency. A Licensed Insolvency Practitioner is appointed as the Liquidator to handle the sale of assets and, where funds permit, make a distribution of funds to creditors.

Members’ Voluntary Liquidation

If your company is solvent but you would like to wind down the company, cease trading and distribute assets to shareholders, then a Members’ Voluntary Liquidation (MVL) can be used. A Liquidator is appointed to oversee the process and ensure that assets are distributed to shareholders after settling all debts. This process can provide an organised conclusion of your business affairs.


A Receivership is a legal process that can be initiated when a company or individual faces financial instability. This involves a secured lender, such as a bank, appointing a Receiver to take control of and manage the assets, operations, or finances of the entity on behalf of creditors or other stakeholders. A Receivership can be triggered by loan defaults, breaches of financial covenants, or the need to safeguard the interests of creditors.


Turnaround refers to a company that has experienced a period of poor performance moving into a period of financial recovery due to a restructuring process. This is known as an informal process. For our Licensed Insolvency Practitioners, insolvency is always a last resort, and every effort is made to turnaround the business, if feasibly possible, before a formal insolvency process begins. This might include restructuring or refinancing the company’s operations.

How can we Help

Our Business Recovery team are here to offer hands-on support and advice to help you proactively manage your situation. If you are facing financial difficulty, we can provide an expert assessment of your company’s financial situation – but early engagement is key. The earlier you seek advice, the more options available to your business and the best chance of its survival.

Next Steps

If you require financial assistance, please do get in touch as soon as possible. The first consultation is complimentary.

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