Struggling to pay creditors or wages?
Are you facing financial challenges? You don’t have to do it alone.
As an SME or family business owner, financial struggles can be overwhelming, bringing immense pressure and uncertainty. The responsibility of protecting your business, employees, and personal financial standing can take a heavy toll. However seeking support is a positive and proactive step.
At McTear Williams & Wood, we have over 25 years of experience helping SMEs and family businesses across the UK regain stability. Our step-by-step approach is designed to give you clarity and control, working closely with you to understand your unique situation and provide clear, practical solutions. We also ensure directors are fully aware of their legal responsibilities, helping them:
- Act in the best interests of creditors;
- Avoid wrongful or misfeasant trading;
- Minimise personal liability.
Whether you’re looking at business recovery, restructuring, or insolvency solutions, we’re here to guide you. Take the first step with a free, no-obligation confidential consultation.
Free resources to help struggling businesses
We offer a free, no-obligation initial consultation to discuss your situation and explore your options. We’ll provide transparent and upfront pricing based on your specific needs. Once we are engaged we get paid from company assets so our charges won’t have to be paid by you personally.
Discover the early warning signs for a failing business and how to manage a cash flow crisis to when to speak to an insolvency practitioner.
Find out how your struggling business can survive financial difficulties through to how to close your business the right way.
Explore how the insolvency process works with our guide detailing the least to the most severe insolvency options.
Find out whether or not you should offer a personal guarantee to help your struggling business, along with the risks involved.
Browse our library of top tips for directors of struggling businesses, from managing your reputation to funding a struggling business.
If you’re facing financial difficulties arising from business activities, we can help.
Find out how.
Additional resources: Negotiating with creditors | CIBLs | HMRC debt | Time to pay agreements
Free advice line for distressed company directors > 08003317417
We help you look after your employees through insolvency
When working with SMEs, particularly family-run businesses, we understand that ensuring employees’ financial security is a key concern. That’s why our dedicated employee support team is here to provide guidance and reassurance during difficult times.
With a focus on clear communication and full legal compliance, our team helps employees navigate the complexities of company administration and liquidation, ensuring they understand their rights and available support. Our employee support services include:
- Clarifying employee rights and assisting with claims.
- Processing redundancy claims efficiently.
- Facilitating pay in lieu of notice claims through the Redundancy Payments Office, part of the UK government’s National Insurance Fund.
- Assisting directors in making their own claims as employees where applicable.
For expert guidance on employee support during financial uncertainty, contact our team for a free and confidential consultation.
Book a free 1-2-1 consultation and get confidential advice
If your company is struggling to pay creditors, or you’re experiencing decreased cash flow and have concerns about your finances, book a free 1-2-1 with our specialist team.
During your free initial advice meeting, we will discover a true picture of your company’s financial situation
and will 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 – we only begin to charge if and when the terms of engagement have been agreed.
How we help businesses in financial trouble
If you’re the director of an SME or family business, financial challenges can be complex—especially when business and personal finances overlap. We understand these unique pressures and approach every situation with sensitivity and discretion. Are you:
- Struggling with cash flow?
- Facing mounting unpaid invoices?
- Finding it difficult to pay suppliers or wages?
Our experienced insolvency practitioners and advisors work creatively to explore all possible solutions, keeping the best interests of both business owners and employees in mind. The earlier you seek support, the more options may be available to help steer your business toward recovery. Don’t wait until the pressure becomes unmanageable—reach out today for expert guidance while you remain in control.
Understand your financial options
Check the health of your business with our free business health check tool.
Free test includes:
- Company health assessment
- Types of solutions available
- Options & next steps
*All information provided is completely confidential and will not be shared with a third party
FAQs for businesses with cash flow issues
My business is struggling, but I'm worried about the cost of insolvency advice. How much will it cost?
We offer a free, no-obligation initial consultation to discuss your situation and explore your options. We’ll provide transparent and upfront pricing based on your specific needs. Once we are engaged we get paid from company assets so our charges won’t have to be paid by you personally.
I'm concerned about the impact of insolvency on my employees. What support can you provide?
We have a dedicated employee support team that will guide your employees through the process, explain their rights, and help them access available resources, including redundancy claims.
What's the difference between business rescue, administration, and liquidation? Which option is right for me?
Each option has its own purpose. Business rescue focuses on turning your company around, administration provides temporary protection from creditors, and liquidation involves closing the business and if appropriate selling the business and assets (often back to the directors) into a new company so the business can continue to trade without the liabilities of the old company. We’ll assess your situation and recommend the best course of action.
I'm a family business. How will this affect my personal relationships?
We understand that family businesses have unique challenges where the lines can be blurred between the company and personal finances. We approach each case with sensitivity and discretion, and we’ll work with you to minimise the impact on your personal relationships. We also know how to communicate clearly and effectively with multiple family members and creditors.