Company insolvency
If your company cannot pay its debts you are likely to find yourself in a frightening and confusing place. This page gives an overview of corporate insolvency (also known as corporate recovery) and explains how we can help you through it.
Last Updated: 07/02/2025
What is company insolvency?
Put simply, company insolvency is when a company has net liabilities, when it has reached the point of no return or cannot pay debts when they fall due. As soon as this happens, directors of the business should take advice from a licensed insolvency practitioner.
Taking early advice is key as this financial distress will impact on how the business should be run. It is sometimes possible to trade out of the situation if advice is sought early enough. There are some strict penalties for ‘getting it wrong’ that we can help you avoid.
Clear action plan
If you are a director in this uncomfortable situation you may feel very alone, but we operate in this area the whole time and meet people facing the possibility of company insolvency every day. We promise to help relieve the pressure you’re feeling, find the best way forward and give you a clear plan of action.
Experience
We deal with more small/medium enterprises (SME) and family businesses in the Southeast of England than any other firm and so have a deep appreciation of the issues facing owner managers and how best to navigate these. Contact one of our insolvency practitioners on or view our Brief Guide to Insolvency
How can we help?
Our experts are able to help you maintain business’s critical cashflow functions – by sitting alongside you in negotiations with suppliers, HMRC and banks and even providing interim management solutions.
Experience
It is important to be aware that directors of an insolvent company have a legal duty to act in the best interests of creditors and need to be careful to avoid wrongful trading (and personal liability!) or other misconduct which could lead to disqualification. This may sound worrying, but we can quickly assess your situation and provide you with the guidance you’ll need.
Our initial meeting with you is free and in complete confidence. We encourage you to get in touch to discuss the next steps.
Director
Norwich office contact details:
- 01603 877851
- 07944 433026
- hayleywatson@mw-w.com
- Prospect House, Rouen Road, Norwich NR1 1RE
Cambridge office contact details:
- 01223 903020
- Nine Hills Road, Cambridge, CB2 1GE
Understand your financial options
Check the health of your business with our free business health check tool.
Get an indication as to whether your company has what it needs to survive.
Includes:
-Company health assessment
-Types of liquidation available
-Options & next steps
*All information provided is completely confidential and will not be shared with a third party
Free advice line for distressed company directors > 08003317417
Insolvency pitfalls
- Misconduct and possible disqualification
- Wrongful trading
- Avoid criminal sanctions such as trading with a similar name
- Avoiding/minimising personal guarantees
- Manage potential conflicts of interest
- Breach of duty/misfeasance
BUSINESS RESCUE & INSOLVENCY SPECIALISTS
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How can we help - Book a free 1-2-1
If your company is struggling with unmanageable debts, decreased cashflow or concerns about about your company’s future, we can assess your situation and provide you with tailored solutions and options.
During your free initial advice meeting, we will discover a true picture of your company’s financial situation
and offer practical and expert guidance on your next steps.
Initial meetings can be held at our office or your premises and are completely confidential.
There is no charge for this meeting – charges only apply if and when terms of engagement have been agreed.
If you are struggling to repay this loan we can help you understand what options might be available to ease the financial strain. Either call us to speak to one of our experts or arrange a free initial consultation meeting.
