Pre-insolvency advisory
Business recovery and turnaround
When a viable business runs into difficulty, early advice often makes the difference between a manageable problem and a forced outcome. We work with directors to understand the position, weigh the options and, where it helps, open a constructive conversation with creditors, all while the business is still trading.
What this is
Advice taken early, while options remain
Business recovery and turnaround is advisory work that sits before any formal insolvency process. It is for companies that are fundamentally viable but are under pressure, whether that is tight cash flow, pressing creditors, a lost contract or a period of trading losses. The goal is to give directors a clear, honest read on where things stand and what can realistically be done about it.
This is advice, not a guaranteed result. Whether a business can trade through difficulty depends on its underlying viability, the support of creditors and funders, and circumstances outside anyone's control. What we can do is help you see the position clearly and make informed decisions while you still have room to move.
Why acting early matters
The single most useful thing a director can do is seek advice early. While a business is still trading and has cash in hand, more options tend to remain open: there is room to negotiate, time to plan and a wider set of paths to consider. As cash and time run shorter, choices narrow, and some options close altogether.
Acting early also helps directors meet their duties. Understanding the position and taking proper advice, rather than trading on in hope, is part of responsible decision-making when a company is under financial stress.
What we look at
An engagement usually begins with an independent business review: a measured look at the company's financial position, its cash flow and the pressures it is facing. From there we work through the realistic options with you.
- An independent review of the business and its current financial position.
- A cash-flow and short-term funding assessment, so you know what runway you have.
- An honest options assessment, setting out the realistic paths and what each involves.
- Support with informal arrangements, such as negotiating time to pay with key creditors.
- Referral into a formal process, such as voluntary administration or a creditors compromise, only if one is genuinely needed.
How it sits alongside our formal services
Recovery advice and our formal appointments are not separate worlds. Early advisory work often confirms that no formal step is required, and the business simply needs a clear plan and a conversation with its creditors. In other cases, the review shows that a formal process would give the company a better footing, and we can explain how that would work.
Where a formal process is the right course, the relevant options include voluntary administration, which gives a company breathing space under Part 15A of the Companies Act 1993, and a creditors compromise under Part 14, a binding arrangement with creditors. If a company is not viable, we can also talk you through liquidation. We will always be straight with you about which path genuinely serves your position.
A note on independence
We are clear about our role and who we act for. Giving you frank advice sometimes means telling you what you would rather not hear, including, on occasion, that a business cannot be saved. We think that honesty is the most useful thing we can offer.
Our approach
What an engagement looks like
Every situation is different, so the work is shaped around your circumstances. As a guide, a recovery engagement tends to move through the following stages.
Understand the position
We start with a confidential conversation and an independent review of the company's finances, cash flow and the pressures it faces.
Assess the options
We set out the realistic paths, from an informal plan through to a formal process, and what each would mean for you, the company and its creditors.
Agree a way forward
You decide how to proceed. Where it helps, we support negotiations with key creditors or funders to give the business room to stabilise.
Review and, if needed, refer
We keep the position under review. If a formal process becomes the right step, we explain it clearly and can guide you into it.
Recovery and turnaround work is advisory in nature. We do not promise that a business will be saved or that a particular outcome will be achieved. What we offer is an honest assessment and clear options, so you can decide with your eyes open.
Common questions
Business recovery and turnaround, in brief
Is business recovery advice the same as appointing a liquidator?
No. This is advisory work that sits before any formal appointment. The aim is to understand the position and the options while the business is still trading. A formal process such as voluntary administration or a creditors compromise is one possible path, but it is considered only if it is the right step, not assumed.
Why does acting early matter?
The earlier a business seeks advice, the more options tend to remain open and the more room there is to negotiate with creditors and lenders. As cash and time run shorter, choices narrow. Acting early does not guarantee a particular outcome, but it usually gives a wider set of paths to consider.
Will a turnaround engagement save my business?
We cannot promise an outcome. Whether a business can be turned around depends on its underlying viability, the support of creditors and funders, and factors outside anyone's control. Our role is to give you an honest assessment and to set out the realistic options, so you can make an informed decision.
The sooner we talk, the more we can do
If your business is under pressure, a short, confidential conversation is often the most useful first step. We will give you an honest view of where things stand.