How to avoid insolvency – our Directors’ Guide

Three out of four clients we advise avoid a formal insolvency process altogether. Our Directors’ Guide can help navigate around insolvency issues and avoid potential pitfalls.
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Early intervention is key

Once insolvency begins to set in it becomes incredibly difficult for directors to avoid breaching their duties.  Early intervention is the key to minimising claims that can arise from a breach of duty as well as achieving a successful outcome for a financially distressed business, its directors and shareholders.

Our new Directors’ Guide can help navigate around insolvency issues and avoid potential pitfalls. The guide has ten sections which walks directors through the issues they might face in a logical order as well as highlighting areas where action should be considered.

How can we help?

We offer a free initial advice meeting on a no obligation and confidential basis where we can provide suggestions to help ease cashflow, guidance on how you might safely inject working capital, areas to consider to avoid wrongful trading as well as how to protect the future of your business – but don’t delay – if action is taken early enough there is often a good chance that your business can be saved.  If there are delays in seeking advice and decline sets in the chances of success become more remote and formal insolvency can often end up being the only option.

What's next?

Alternatively complete our free online business health check which will assess your company’s situation in four easy steps before providing you with your results – we will then be in touch.

Or why not contact our specialist team today for immediate advice on your specific situation – call us on 0800 331 7417.

Jo Watts

Director

Jo trained as a chartered accountant and qualified in 2002 doing accounts preparation, audits including for charities. She then joined McTear Williams & Wood on secondment in 2009 and decided to make a career as a Licensed Insolvency Practitioner.

Jo specialises in administrations including pre-packs and trading administrations and is involved in  forensic recovery work. Acts as an Insolvency Practitioner in all forms of corporate insolvency including administrations, pre-packs, liquidations and company voluntary arrangements, individual voluntary arrangements and bankruptcies.

Jo qualified as a Chartered Accountant in 2002 and Licensed Insolvency Practitioner since 2019 and was appointed Director in 2024.

It's never too early to talk

Don’t be nervous talking to an insolvency practitioner, if you’re worried you might be losing control contact us early, there’s more scope when people call us early as we’re able to offer turnaround possibilities.  We have over 20 years’ experience working as a leading business rescue and insolvency expert in the South East. 

Act now for the best outcome – you have more options than you realise and with our help you can restructure and focus on your future.  Contact one of our professional experts today. 

"Unfortunately, Gordon Dean Solicitors LLP got into debt in the 2020 pandemic, mostly with HMRC but recovered strongly making good profits but this was not enough to recover fully and having sought and failed to achieve further refinancing I visited insolvency practitioners McTear Williams & Wood who were very professional and arranged a liquidation on 1 April 2022. Gordon Dean Solicitors Ltd bought the assets of the firm and started trading from new offices. HMRC will get paid by the liquidators over the next few years."
Gordon DeanSenior Partner of Gordon Dean Solicitors Ltd
"Bethan and Tony acted not only with kindness and humanity, but professionalism! Also thanks to Chloe and Jamie for helping my staff so efficiently. We are not out of the woods, but grateful that you gave us another chance to start again by buying the business and assets back from the liquidator."
Architectural company
"We approached MWW at a very difficult stage - needing to complete an administration process quickly. It was an incredibly stressful time for us in general and Jo, Tony, Bethan and the team at MWW were a real pleasure to work with. They quickly jumped in to support us, gave us really clear and concise advice and helped mobilise the process really quickly to deliver a positive outcome via a pre-pack administration. We couldn't be more grateful for the support we received and I would have no hesitation in recommending MWW."
Company Director
"We have worked with McTear Williams & Wood in a number of turnaround situations. We rank their integrity and professionalism highly and really value their active desire to make businesses succeed wherever possible. Their attitude in working with other professional advisors to achieve this end is highly commendable."
Corporate Finance Accountant
"I am always impressed with the speed with which McTear Williams & Wood respond to a crisis (and with insolvency matters, it usually is a crisis). Our clients have received invaluable, practical, down-to-earth advice which has helped to steer them towards the right solutions to their problems. I am confident to recommend McTear Williams & Wood to our clients in any insolvency situation."
Insolvency Advice forAccountancy Firm Partner
"It was a tough decision to make but it had to be faced, I made the call and McTear Williams & Wood were very, very helpful the whole time. They helped us to explore all the possibilities to find any way forward and they helped us identify that liquidation was the best option for the business. Certainly McTear Williams & Wood made the process quite straight forward for us there was lots of help and lots of contact with them throughout the whole process."
Barry GodfreyManaging Director, Godfrey DIY Supermarkets
"Having traded successfully for over 20 years until recently it was devastating when we realised that our company would have to go into administration. But as we began to work with the team at McTear Williams & Wood believe it or not we wished we had been introduced to them at least six months sooner. That would have avoided months of heartache and the business would have been in a stronger position. As it was McTear Williams & Wood guided us through a pre-pack which saved the profitable stores and the restructured business is now growing again."
Managing Director, National Retailer
"After meeting with Andrew McTear we both felt we had met someone who we could put our trust in and who would leave no stones unturned to help us rescue our business. We had been given two insolvency practitioner names and the other firm just wanted to put the company into administration. As things turned out that would have left any purchaser of the business and assets with significant employee liabilities which would have killed the deal and all the jobs would have been lost."
Finance Director, Joinery Company
"I am aware of the sterling work carried out by this committee and of your role on it. I would like to take this opportunity to thank you for your valued contribution over the last two or so years. Your endeavours have made a significant contribution to the success of the committee in setting up and reviewing the Straightforward Consumer IVA Protocol and I and my Policy colleagues are grateful for the considerable time you have spent in this role."
IVA Standing Committee Member
"McTear Williams & Wood were called in to help our company when it went into Administration. They took early decisive action to reduce costs, maintain the loyalty of customers and key staff and find a viable way forward for our company. They conducted themselves at all times with the utmost professionalism, integrity and objectivity. I found them approachable, well-connected, responsive and always value-adding. McTear Williams & Wood have been instrumental in turning around the company's fortunes."
CEO, Manufacturing Business
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A guide for directors

Three out of every four clients we advise avoid a formal insolvency process altogether. However, once insolvency begins to set in it becomes incredibly difficult for directors to avoid breaching

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