A guide, not advice. This explains how things generally work. A licensed insolvency practitioner will tell you what applies to your company or to you.
How can I save my company from liquidation?
Companies are saved from liquidation every week - but by directors who moved early and honestly, because every rescue route runs on the two resources delay consumes: cash and creditor goodwill.
The rescue ladder, in order of severity
Self-help first: cash flow surgery - cost cuts, debtor discipline, refinancing - for problems the business can outgrow.
HMRC Time to Pay - where tax arrears are the pressure and the trade is viable.
A Company Voluntary Arrangement - where the whole creditor pile needs binding into a repayment plan funded by future profits.
Administration - where creditor action is imminent and the business needs the moratorium's protection to be rescued or sold; if a winding up petition has already landed, this rung is urgent.
The honest test
Every rung requires the same foundation: a business that makes money at the operating level - and where it doesn't, "saving the company" means funding losses with creditors' money, which is precisely what wrongful trading polices.
The kindest thing advice can do is answer that test honestly - our guides to the warning signs and your full options are where to start, and the free conversation is where it gets answered for your company specifically.
Call our licensed insolvency practitioners in Manchester on 0333 023 5090 - free, confidential, and directly with an ICAEW-licensed IP.
InsolvencySupport.co.uk is operated by Xeinadin Corporate Recovery Limited (company no. 11415156), 8th Floor, 100 Barbirolli Square, Manchester M2 3BD. Our insolvency practitioners are licensed and regulated by the ICAEW.
This page is intended for general information purposes only and does not constitute financial, legal, or professional advice. Always take advice from a licensed insolvency practitioner about your specific position.