In some cases, yes. A business may be insolvent but still viable if action is taken early enough.

Options may include restructuring, negotiating with creditors, reaching time to pay arrangements, entering administration, proposing a voluntary arrangement, or selling part of the business.

Whether the business can be saved will depend on the level of debt, cash flow, assets, creditor pressure, future trading prospects and whether directors act quickly.

Early advice is important because options can narrow as pressure increases. Havard Law Solicitors can help you understand whether rescue or restructuring may be realistic.