R&T Turnaround and Recovery

29/08/2026

Financial pressure rarely appears all at once.

For most businesses, it builds gradually. Cash flow becomes tighter, supplier payments take longer, HMRC arrears begin to grow, and difficult decisions are pushed back in the hope that things will improve.

The problem is that waiting often reduces the options available.

Seeking advice early doesn't mean your business is failing. It means you're giving yourself the opportunity to understand your position, explore practical solutions, and make informed decisions while there are still multiple routes forward.

Whether the right answer is restructuring, refinancing, negotiating with creditors or exploring a formal insolvency process, taking action early can make a significant difference to the outcome.

Our latest blog explains why financial pressure develops over time and how early action can help protect your business, your employees and your future.

Read the full article here:
https://rtturnaroundandrecovery.co.uk/financial-pressure-builds-over-time-why-early-action-gives-businesses-more-options/

If your business is under financial pressure, or you're simply unsure where you stand, our team is here for a confidential conversation.

It is never too late to Start Again.

Most businesses do not encounter serious financial difficulties overnight. More often, financial pressure develops gradually through a series of challenges that become increasingly difficult to manage if left unaddressed.

28/08/2026

The Insolvency Service has launched its second review of the Insolvency Rules, opening the door to changes that could shape insolvency procedures for years to come.

Rather than introducing wholesale reform, the review is focused on modernising existing processes, reducing unnecessary administrative burdens, and ensuring the rules keep pace with developments such as digital communications, AI, and cryptoassets.

The consultation also seeks views on practical issues affecting insolvency practitioners every day, including electronic communications, decision-making processes, fee approvals, and administrator appointments.

While many of the proposed changes may seem procedural, they have the potential to improve efficiency and make insolvency processes more practical for businesses, creditors, and insolvency professionals alike.

The consultation remains open until 6 October, giving stakeholders the opportunity to help shape the future of the UK's insolvency framework.

The Insolvency Service has launched its Second Review of the Insolvency (England and Wales) Rules 2016 and the Insolvency (Scotland) (Company Voluntary

27/08/2026

Company insolvencies increased in July, with 1,931 companies entering insolvency in England and Wales, 5% higher than in June 2026.

Creditors’ Voluntary Liquidations (CVLs) continued to account for the majority of cases, with 1,497 recorded during the month, representing 78% of all company insolvencies.

While the overall July figure was 5% lower than the same month last year, the latest statistics show that financial pressures continue to affect businesses across England and Wales.

For directors, these figures are an important reminder that financial difficulties should be addressed early. If cash flow is tightening, HMRC arrears are increasing, or creditor pressure is building, seeking professional advice sooner can provide more time to understand the options available.

Early action can make a significant difference.

Source: The Insolvency Service, Company Insolvency Statistics, July 2026.

26/08/2026

HMRC pressure rarely appears overnight.

It often starts with small warning signs that are easy to dismiss. A payment is delayed, arrears begin to build, reminders become more frequent, or cash flow becomes increasingly difficult to manage.

The challenge is that these early signs are often overlooked until the situation has escalated and the options available to directors have become more limited.

Recognising the warning signs early can give businesses valuable time to explore practical solutions, speak with HMRC, and take steps to protect the future of the business before formal action becomes necessary.

Our latest blog explains some of the most common indicators that HMRC pressure is building and why acting early can make a significant difference.

Read the full article here:
https://rtturnaroundandrecovery.co.uk/recognising-the-early-signs-of-hmrc-pressure/

If your business is experiencing HMRC arrears or you're unsure what your next steps should be, our team is here for a confidential conversation.

It is never too late to Start Again.

When directors think about HMRC taking action, they often picture enforcement visits, winding up petitions or immediate legal proceedings.

25/08/2026

As the summer holidays draw to a close, many directors begin thinking about the final quarter of the year.

For Tom Lawson, Partner at R&T Turnaround & Recovery, there are three conversations that are always worth having before September arrives.

The first is with your accountant, to understand your current financial position and any upcoming obligations. The second is with your team, to ensure everyone is aligned and prepared for the months ahead. And if you're experiencing cash flow pressure, HMRC arrears or increasing creditor demands, the third conversation should be with an experienced turnaround and recovery adviser.

Seeking advice early isn't about expecting the worst. It's about understanding your options while you still have the greatest opportunity to act.

Sometimes, one conversation is all it takes to change the direction of the months ahead.

24/08/2026

Thames Water's financial future remains under the spotlight as investors seek to avoid government intervention by proposing a new restructuring deal.

With around £20 billion of debt and ongoing pressure to invest in critical infrastructure, the company continues to face difficult decisions over its long term financial stability. Among the options being discussed is a Special Administration Regime, a process designed to protect essential public services while a long--term solution is explored.

The situation highlights the complexity of restructuring businesses that provide critical infrastructure, where financial challenges must be balanced against the need to maintain essential services for millions of customers.

As the discussions continue, the case serves as another reminder that successful restructurings often require collaboration between lenders, stakeholders, regulators, and government to achieve the best possible outcome.

A proposed ‘golden share’ in the debt-laden utility company may not persuade Andy Burnham to do a deal

23/08/2026

When a company enters a formal insolvency process, pursuing legal claims can sometimes be one of the most effective ways of recovering value for creditors. The challenge is that these claims can also be expensive to investigate and pursue.

A recent guide from Squire Patton Boggs explores the range of funding options available to insolvency practitioners, highlighting how litigation funding has evolved to provide greater flexibility where estate funds are limited.

Today, insolvency practitioners can choose from a number of funding structures, including conditional fee arrangements, damages-based agreements, third-party litigation funding and claim assignments. Each option offers a different balance of risk, cost and potential recovery, allowing practitioners to select the most appropriate approach for the circumstances of each case.

The guide also highlights the importance of after-the-event insurance, which can help protect against adverse legal costs and reduce financial risk when pursuing claims.

For directors and stakeholders, it is a useful reminder that a lack of available cash does not necessarily prevent legitimate claims from being investigated. Where claims have merit and the potential to improve returns for creditors, funding solutions may be available that allow insolvency practitioners to pursue recoveries without placing unnecessary financial pressure on the insolvent estate.

As litigation funding continues to develop, it remains an important tool in helping insolvency practitioners maximise value and achieve the best possible outcome for creditors where viable claims exist.

This guide provides an overview of the evolving litigation funding landscape for insolvency practitioners (IPs) and explores the range of funding structures available to support insolvency claims where estate funds are limited. As the market has developed, IPs now have greater flexibility in selecti...

22/08/2026

Aston Martin has secured £550 million in new financing as it looks to strengthen its balance sheet and support future product plans.

The announcement follows a challenging period for the luxury car manufacturer, with rising losses, workforce reductions, and continued pressure from weaker global demand and higher operating costs.

While refinancing is not an insolvency process, it is an important reminder that businesses do not need to wait until a financial crisis develops before taking action. Accessing additional funding, restructuring debt, or reviewing financing options at the right time can provide the flexibility needed to navigate challenging market conditions.

For many businesses, early action can make the difference between stabilising operations and facing more limited options further down the line.

The luxury car maker says the loans will be used to fund current and future product plans.

22/08/2026

Seven companies within the Ardmore group have submitted proposals for Company Voluntary Arrangements as they seek to agree repayment terms with creditors and continue trading.

A CVA can provide a viable business with breathing space to deal with historic debt while avoiding a more terminal insolvency outcome.

What stands out in this case is the emphasis on early engagement with key stakeholders. Creditors were approached in advance to assess their appetite for the proposals, helping create a more constructive path towards a potential rescue.

For directors facing financial pressure, the wider lesson is clear: restructuring options are often more effective when explored before the situation becomes critical.

The earlier creditors are engaged, and the financial position is understood, the greater the opportunity to preserve the business, protect jobs and improve outcomes for stakeholders.

The companies have filed applications for company voluntary arrangements (CVA), which, if accepted, would allow them to reach a payment timetable with

21/08/2026

The situation at Thames Water continues to highlight just how complex restructuring becomes when financial pressures are allowed to reach a critical stage.

The company reportedly has around £20bn of debt and has warned that its existing cash could run out by the end of the year, while discussions continue over a potential rescue deal involving creditors, new investment and debt restructuring.

Without an agreement, special administration remains a possibility.

While Thames Water is an exceptional case in terms of its size and importance, the underlying principle applies much more widely: the greater the financial pressure becomes, the more difficult the decisions and the fewer options a business may have available.

Early intervention remains one of the most important factors in any turnaround.

The seven-figure payment was given to Steve Buck as part of package to persuade him to join the troubled utility company.