If your company is struggling with debt, cash flow problems or creditor pressure, finding the right insolvency practitioner can feel like another difficult decision to make.
From national insolvency specialists to smaller firms supporting SMEs and regional businesses, there are plenty of options available. But which firms should you consider?
We’ve rounded up nine of the UK’s leading insolvency practitioners, including McAlister & Co, to help you understand what each firm offers and who they may be best suited to.
The 9 best insolvency practitioners in the UK
- McAlister & Co – Best for SMEs and practical business rescue advice
- Begbies Traynor – Best for nationwide insolvency support
- FRP Advisory – Best for larger and complex restructuring
- Leonard Curtis – Best for business recovery and turnaround
- Wilson Field – Best for SME insolvency support
- Quantuma – Best for complex restructuring
- Purnells – Best for South Wales businesses
- Clarke Bell – Best for smaller businesses and directors
- Interpath – Best for large-scale restructuring
1. McAlister & Co
Best for: SMEs, company directors and individuals seeking practical insolvency advice.
McAlister & Co provides insolvency and business rescue advice to companies, directors and individuals experiencing financial difficulties.
Its services include company insolvency, liquidation, business turnaround, Company Voluntary Arrangements (CVAs), pre-pack administration and personal insolvency.
For directors facing creditor pressure, HMRC arrears or cash flow problems, getting advice early can help establish whether the business can be rescued or whether a formal insolvency procedure may be required.
2. Begbies Traynor
Best for: Businesses looking for a large, nationwide insolvency practice.
Begbies Traynor is one of the UK’s best-known insolvency and restructuring firms, with offices across the country.
The firm advises businesses experiencing financial distress and provides services including company liquidation, administration, restructuring and business recovery.
Its size and national presence make it an obvious choice for businesses looking for an established insolvency practitioner with experience across a wide range of sectors and situations.
3. FRP Advisory
Best for: Larger businesses and complex restructuring situations.
FRP Advisory operates across restructuring, insolvency and wider corporate advisory services.
The firm works with businesses, lenders and other stakeholders facing financial difficulty, providing advice on restructuring, formal insolvency procedures and distressed situations.
Its broader advisory offering can be particularly useful where insolvency is linked to issues such as funding, transactions or more complicated corporate restructuring.
4. Leonard Curtis
Best for: Business recovery, turnaround and restructuring.
Leonard Curtis specialises in helping businesses navigate financial and operational challenges.
Its services cover restructuring and insolvency alongside funding and wider business advisory support.
For companies that may still have a viable underlying business but are struggling with debt or cash flow, its focus on recovery and turnaround makes it a relevant option to consider alongside traditional insolvency solutions.
5. Wilson Field
Best for: SMEs facing company insolvency and creditor pressure.
Wilson Field provides advice to companies and directors dealing with financial difficulties.
Its services include Creditors’ Voluntary Liquidation, administration, CVAs, HMRC debt solutions and advice around winding-up petitions.
The firm’s focus on smaller and medium-sized businesses makes it a close comparison for directors looking for practical insolvency advice.
One point worth noting is that Wilson Field is now a trading style of FRP Advisory Trading Limited following FRP’s acquisition of the business.
6. Quantuma
Best for: Complex restructuring and distressed corporate situations.
Quantuma provides restructuring and insolvency advice to businesses, directors, investors and lenders.
Its services include formal insolvency procedures such as administration, liquidation and CVAs, alongside restructuring advice, business sales and other distressed situations.
The firm is particularly relevant to businesses where financial difficulties involve multiple stakeholders, funding issues or a more complicated restructuring process.
7. Purnells
Best for: SMEs and businesses in South Wales.
Purnells is an insolvency practice providing advice to limited companies, sole traders, partnerships and individuals.
It is particularly relevant to businesses in South Wales, with a presence across locations including Cardiff, Newport, Bridgend, Swansea and Carmarthen.
For business owners looking for a specialist insolvency practice with a strong regional presence, Purnells is an alternative to the larger national firms.
8. Clarke Bell
Best for: Directors and smaller businesses.
Clarke Bell focuses on helping company directors and smaller businesses dealing with financial difficulties.
Its services include Creditors’ Voluntary Liquidation, Members’ Voluntary Liquidation and advice for directors considering their options.
Its proposition is particularly focused on making insolvency easier to understand for business owners who may be unfamiliar with the process.
9. Interpath
Best for: Large and complex restructuring situations.
Interpath is a major restructuring and insolvency advisory firm working with businesses and stakeholders across complex financial situations.
Its services include formal restructuring and insolvency, CVAs, Restructuring Plans, Schemes of Arrangement and administration.
Its scale and specialist expertise make it particularly suited to larger businesses or cases involving significant financial, operational or stakeholder complexity.
How do you choose an insolvency practitioner?
The right insolvency practitioner will depend on your circumstances.
A small business may prioritise accessibility and experience with owner-managed companies, while a larger organisation could require specialist restructuring, funding or transaction expertise.
Before choosing a firm, consider:
- Do they have experience with businesses like yours?
- Can they explain your options clearly?
- Are they appropriately licensed?
- Have they explained the costs and implications?
- Are they considering rescue options where appropriate?
Most importantly, seek advice as early as possible. Financial problems rarely disappear on their own, and waiting until creditors have taken formal action can leave you with fewer options.
The JIEB’s examiner guidance also highlights the importance of applying practical knowledge to individual insolvency situations, rather than simply relying on theoretical knowledge.
Which insolvency practitioner is right for you?
There is no single insolvency practitioner that will be right for every business.
The large national firms may be well suited to complex corporate restructurings, while specialist SME practices can offer a more focused approach for smaller businesses and directors.
If your company is experiencing financial difficulties, the most important thing is to understand your position and the options available before deciding what to do next.
At McAlister & Co, we provide practical, straightforward insolvency and business rescue advice to help directors understand their options and take the next step.
If you’re worried about your company’s financial position, speak to McAlister & Co today.
