23rd May 2025
Viewpoint profile by Liz Welch, director, qualified accountant and insolvency practitioner at Leonard Curtis – based in the Birmingham office with over 20 years’ experience in corporate recovery.
Liz has extensive experience of trading companies in administration across a number of sectors, including retail, hospitality, manufacturing and automotive.
Liz also has considerable experience of conducting an AMA (Accelerated Mergers & Acquisitions) and sale of business process completing transactions on a prepack Administration basis, as well as assisting with the orderly wind down of a Company.
What I love most about working in the restructuring and insolvency space is the variety – no two cases are ever the same. I really enjoy being part of a close-knit team, where we collaborate and support each other to deliver strong outcomes, often in challenging circumstances for our clients.
Early intervention is key and provides a real opportunity to strengthen the way we work with our clients. We’ve built some fantastic relationships, and by continuing to support businesses and their advisers in spotting early signs of financial distress, we can step in sooner and offer more tailored, effective solutions. This is where the real opportunity to make a difference lies.
One of the biggest challenges in every sector right now is rising costs. The increase in minimum wage and national insurance contributions is hitting a lot of businesses hard, especially those already struggling with tight cashflows. These added pressures can be the tipping point.
Over the last few years, we’ve seen some significant changes in our field, including greater transparency built into legislation, which means stakeholders and creditors are better informed and more engaged in the process. There’s also been a positive shift in the funding landscape, with more challenger banks and alternative funders entering the market, businesses in distress have more options to turn things around without entering a formal insolvency process.
I can’t say how often we speak to clients who say they wish they had acted sooner or taken a different approach.
“Hindsight is a wonderful thing”, is a phrase that really resonates – no one ever knows what the future is going to hold, but there are plenty of options available to business owners facing challenges. That’s why early advice and intervention are so important in what we do.
One of the most important lessons I learned early in my career was how to adapt my communication style depending on who I’m speaking to. In this line of work, we engage with a wide range of stakeholders – creditors, directors, shareholders, banks, employees – and each group has different priorities and concerns. It taught me the importance of tailoring both the message and how it’s delivered to get the best outcome for everyone involved.
I’ve been lucky to have great mentors – and now I try to be one.
I’ve worked with some great managers and insolvency practitioners over the years who’ve played a big part in influencing my career and shaping my professional development. Their guidance and support, particularly in those early years, gave me the confidence to grow – and that’s something I now pay forward with my own team.
Outside of work, I keep busy with my two dogs – they make sure I don’t spend too much time at my desk! I’m also a big Aston Villa supporter, and nothing beats catching up with friends over a good glass of wine.