Are There Alternatives to Liquidation If My Company Is Insolvent?
Running a business is never easy. One month you’re meeting your targets, the next you’re struggling to pay suppliers, wages or HMRC. When debts start stacking up and you’re losing sleep over bills, it’s easy to feel like liquidation is your only choice. But here’s the good news—it’s not. There are other routes that might fit your situation better, and many business owners across the UK have turned things around with the right advice.
At The Insolvency People, we work with company directors in every corner of the UK from cities like Manchester, Birmingham, Leeds, and Bristol, to smaller towns like Buxton, Macclesfield, Matlock, Wigan, and Truro. We take the time to understand what’s really going on behind the scenes, and offer realistic options that can often save a business or at least soften the landing.
What Are the Real Alternatives to Liquidation?
- Company Voluntary Arrangement (CVA)
A CVA allows your business to make affordable payments to creditors over time, while continuing to trade. It can include writing off a portion of your unsecured debts too.
What makes it different? It puts you back in control and shows your creditors you’re trying to do the right thing. You can keep your team, your brand, and often even your premises.
- Time to Pay Arrangement (with HMRC)
If you’re behind on VAT, PAYE or corporation tax, we may be able to negotiate with HMRC for extra time to catch up on payments.
Why this helps: It avoids costly enforcement actions like bailiff visits or winding-up petitions. It’s also less public and more flexible than formal insolvency routes.
- Administration
This formal process gives you legal breathing space from creditors while a plan is drawn up possibly to sell the business, restructure it, or rescue it via a CVA.
Good for? Companies with value that can still be saved, but under extreme pressure from lenders or landlords.
- Informal Agreements
Sometimes, a phone call and a solid plan is all it takes. If you’re early enough in your difficulties, we can help negotiate informal payment plans with suppliers, landlords or lenders.
Benefit: You avoid the cost, paperwork and formality of insolvency—while still getting back on track.
- Business Turnaround Support
From cash flow loans to better invoicing systems, staffing changes to supplier negotiations, we work with turnaround experts who can stabilise a company in distress.
It’s not always about debt. Sometimes, fixing how the business runs can turn things around faster than you’d expect.
A Missed Opportunity: A Lesson From Leicester
Take the case of a catering business in Leicester. They were growing quickly, but when a big contract was unexpectedly cancelled, things started slipping. Instead of getting advice, the director tried to juggle payments and took out short-term loans to stay afloat. Within three months, the company couldn’t meet payroll, suppliers had stopped delivering, and HMRC was knocking.
They eventually came to us but by then, there was no runway left. They went into liquidation, lost their team and were personally liable for some debts. If they’d spoken to The Insolvency People even a few weeks earlier, a CVA or Time to Pay arrangement could have saved them.
In Manchester, we recently advised a digital marketing agency that had racked up significant tax arrears and supplier debts. They were weeks away from insolvency but we helped them enter a CVA and keep their key contracts, saving over 10 jobs.
A furniture maker in Macclesfield also benefited from early intervention. With our help, they renegotiated supplier terms and accessed funding to bridge a seasonal cash gap—avoiding insolvency entirely.
Don’t make that mistake. Talk to someone early.
Why Work With The Insolvency People?
We don’t jump straight to liquidation. In fact, we do the opposite. We start by asking: what can we do to keep this business alive?
Nationwide Coverage: Whether you’re in Manchester, London, Cardiff, Glasgow, Sheffield, or somewhere quieter like Buxton, Oswestry or Hinckley—we’re here.
Real Advice from Real People: We’re not bots or call centres. We’re hands-on, empathetic experts who care about your outcome.
We Explore Creative Options: We look at redundancy claims, director entitlements, and ways to fund insolvency fees without upfront costs from you.
We’ll Connect You With Trusted Practitioners: We work with ethical, experienced Insolvency Practitioners who’ll treat you fairly.
Don’t Let Time Run Out
It’s easy to ignore the warning signs—hoping that next month will be better. But waiting often reduces your choices. The earlier we talk, the more we can do to help.
Whether you’re running a garage in Gloucester, a bakery in Bury, a joinery business in Buxton, or an IT consultancy in Manchester—there’s help.
Reach out to The Insolvency People today. Let’s talk about where you’re at, what your options are, and how we can support you.
Insolvency doesn’t have to mean the end. Sometimes, it’s the start of a new chapter. Let’s find the best one for you.