If you’re searching for expert insolvency support services, look no further than McAlister & Co.
When your business is facing financial distress, finding clear, compassionate and expert guidance is crucial. Whether you’re worried about mounting debts, struggling with cash flow, or unsure how to meet HMRC demands, it can feel like you’re running out of options fast.
But you don’t have to face it alone.
At McAlister & Co, we specialise in insolvency support services that help individuals and business owners navigate difficult financial circumstances with confidence. From liquidation to business rescue and restructuring, we offer practical, personalised advice to help you make the best decision for your future.
Understanding Insolvency and Liquidation
Before we explain how we can help, let’s take a moment to clarify what insolvency and liquidation really mean.
What is Insolvency?
A business is considered insolvent when it can no longer pay its debts as they fall due or when its liabilities outweigh its assets. This can happen for a number of reasons, including:
- Late payments from customers
- Loss of a key client or contract
- Unexpected tax bills
- Rising operating costs
- Poor cash flow management
If left unaddressed, insolvency can lead to serious legal consequences - including winding up petitions, creditor action, and director liability.
What is Liquidation?
Liquidation is a formal legal process used to close a company in an orderly and compliant way. While it can feel daunting, the right form of liquidation can bring clarity, protection and a clear route forward. The most appropriate option depends on whether the company is solvent or insolvent, and how the financial difficulties have arisen. There are three main types of liquidation:
Creditors’ Voluntary Liquidation (CVL)
A Creditors’ Voluntary Liquidation is the most common type of liquidation for insolvent companies and is initiated by the directors themselves. It is used when a company can no longer pay its debts and continuing to trade is no longer viable. By choosing a CVL, directors take proactive control of the situation, appointing a licensed insolvency practitioner to close the company properly, deal with creditors, and bring an end to ongoing financial pressure. For many directors, a CVL offers relief, protection from further creditor action, and the reassurance that they have acted responsibly.
Compulsory Liquidation
Compulsory liquidation occurs when a creditor forces a company into liquidation through the courts, usually following a winding up petition. Once a winding up order is made, the company is closed by the court and the Official Receiver is appointed as liquidator. This type of liquidation often comes with greater disruption, as bank accounts are frozen, trading stops immediately, and directors lose control of the process. Because of these factors compulsory liquidation is generally the outcome directors aim to avoid by seeking advice and acting early.
Members’ Voluntary Liquidation (MVL)
A Members’ Voluntary Liquidation applies to solvent companies that can afford to pay all their debts in full within 12 months. It is often chosen when a business has reached the end of its lifecycle, directors are retiring, or shareholders wish to extract value in a tax-efficient way. While an MVL is not driven by financial distress, it is still a formal process that requires the involvement of a licensed insolvency practitioner to ensure the company is closed correctly and in line with legal requirements.
Your Options If You’re Struggling Financially
Facing insolvency doesn’t always mean closing the doors. At McAlister & Co, we believe in finding the best solution for your specific circumstances - whether that means restructuring, refinancing or winding up. Here are some of the most common options:
Company Voluntary Arrangement (CVA)
A company voluntary arrangement allows you to restructure your debt and repay creditors over time while continuing to trade. It’s a lifeline for many businesses that are fundamentally viable but facing temporary cash flow issues. Learn more about CVAs here.
Pre-Pack Administration
If your company is no longer viable in its current form, a pre-pack administration lets you sell the business to a new company - often with the same directors - while protecting jobs and customer relationships. Explore how this works here.
Time to Pay Arrangement (HMRC)
If you’re struggling with tax debts, it may be appropriator to negotiate with HMRC for more time to pay through an affordable, formal agreement. Find out more about how to negotiate a time to pay arrangement in this blog.
Creditors’ Voluntary Liquidation
Sometimes, the most responsible thing to do is to wind the company down. We can guide you through the creditors’ voluntary liquidation process, ensuring your obligations as a director are met and helping you close the business with dignity and support.
How Our Insolvency Support Services Can Help
At McAlister & Co, we do more than simply explain your options - we walk with you through every step of the process. Here’s how our insolvency support services can help you:
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Personalised, Practical Advice
No two businesses are the same, and neither are their financial problems. We take the time to understand your circumstances, goals and concerns, then tailor our advice accordingly.
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Fast, Confidential Support
When you're in financial trouble, time is of the essence. We act quickly to prevent matters from getting worse - whether that’s helping you avoid a winding up petition, secure a CVA, or manage creditor pressure.
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HMRC and Creditor Negotiation
We liaise directly with HMRC and other creditors on your behalf, giving you breathing room and protecting your position while a solution is put in place.
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Expert Guidance on Legal Duties
If you’re a company director, you have legal responsibilities during insolvency. We’ll help you understand your obligations, avoid wrongful trading, and minimise the risk of personal liability.
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Comprehensive Liquidation Support
Should liquidation be the right route, we’ll handle the entire process - from paperwork and asset realisation to creditor communication - while offering practical support and reassurance throughout.
Why Choose McAlister & Co for Insolvency Support Services?
Industry Expertise You Can Trust
Our team of licensed insolvency practitioners brings decades of experience in helping businesses of all shapes and sizes - from sole traders to limited companies - deal with financial distress. We are regulated, professional, and highly respected in the industry.
We Speak Your Language
No jargon, no judgement. Just honest, straightforward advice. We pride ourselves on making complex legal and financial matters simple to understand, so you can make informed decisions with confidence.
Focused on Solutions
While many firms focus on the doom and gloom, we focus on possibilities. Whether that means saving your business or planning an orderly exit, our goal is to protect your future - not just react to the present.
Approachable, Compassionate Support
We understand that financial stress takes its toll - both personally and professionally. That’s why we approach every client with empathy, discretion and kindness. You won’t find hard sells here, just genuine help when you need it most.
Don’t Wait Until It’s Too Late - Contact Us for Trusted Insolvency Support Services
If your business is struggling, taking early advice is the single most important thing you can do. The longer you wait, the fewer options you may have - and the higher the risks to you as a director.
Whether you’re exploring a rescue plan or preparing for liquidation, McAlister & Co is here to help you make the right decision with expert support and real understanding.
So, if you’re facing financial uncertainty and need honest, expert advice, don’t face it alone. Contact McAlister & Co today for a free, confidential consultation.