Turnaround management

At McTear Williams & Wood we always consider the business rescue options first. It is tough running a business under financial pressure and this can carry through to your family and eventually affect your health too.

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An expert helping hand when you need it most

To help ease that pressure and strengthen your management resources we have a network of turnaround interim managers (t-im) who can work alongside you to bring your business back to profitability.

When might turnaround interim management be appropriate?

  • When you are spending most of your time juggling cashflow to pay bills
    If you are running your business for cash rather than profit.
  • When your business is put on stop by suppliers.
  • If HMRC payments are overdue.

At an initial meeting we will make suggestions to ease cashflow or safely inject working capital and advise you on how to avoid wrongful trading and personal liability.  We won’t judge but we will be realistic about the future of your business.  There is no charge for this.

Beyond that we can recommend a 5-step plan to recognise the warning signs, stabilise the business and plan for the future. 

Steps 1 to 4 are undertaken by our in-house team of professionals. Step 5 is carried out by a turnaround interim manager – a professional introduced by us who will work alongside you to take the strain and fill any gaps in your management team providing the perfect crisis management solution.

Phil Bailey


Phil is an experienced turnaround and recovery director with over 28 years of experience and joined McTear Williams & Wood as an associate in 2020.

  • Over 28 years of banking experience working with corporate clients worldwide.
  • Five years as a turnaround director helping clients in the early stages of cashflow difficulties and avoiding defaults and insolvency processes.
  • Advising on access to alternative forms of funding and advice on managing banking relationships.

Phil has worked in Corporate Banking throughout East Anglia including King’s Lynn, Norwich, Cambridge and Peterborough.

Our network

Our turnaround interim management (t-im) network can be called upon at a moment’s notice to work alongside owners and managers of businesses under financial pressure. They are used to working in distressed situations and bring first-rate management skills allowing the business’s senior managers to stop ‘firefighting’ and re-focus on delivering results

Our t-ims have diverse skill sets ranging across financial, sales and marketing, production, operations as well as general management and leadership. They have been there, done that and turned businesses around before.  To find out how turnaround interim management might help in your specific circumstances call us in confidence and speak to Phil Bailey.

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