Restructuring and insolvency — two words that carry enormous weight, yet are often misunderstood. For many businesses, they don’t mark the end, but rather the first step toward recovery.
When companies face financial pressure, headlines are rarely kind. Last year, 305 firms in Northern Ireland entered some form of insolvency process, and early 2025 figures suggest a similar trend this year. Rising costs, higher interest rates, and lingering post-pandemic disruptions have created a perfect storm for sectors including retail, hospitality, and manufacturing. Responding to these challenges, the Mills Selig Restructuring and Insolvency team is helping companies, creditors, and insolvency practitioners navigate uncertainty with clarity and confidence, transforming complexity into strategy and crisis into opportunity.
For over 30 years, Mills Selig has advised clients across Northern Ireland on every aspect of restructuring and insolvency. From administrations and corporate restructurings to receiverships, voluntary arrangements, debt settlements, and distressed business sales, the team brings legal expertise, commercial understanding, and practical problem-solving to every case. What truly sets Mills Selig apart is its collaborative, outcome-driven approach combining technical excellence with strategic insight.
Senior Partner John Kearns brings decades of experience in corporate law and restructuring, guiding multi-million-pound administrations, cross-border acquisitions, and complex corporate finance matters. Richard Craig, Partner and Head of Restructuring & Insolvency, pairs deep insolvency knowledge with pragmatic strategy, regularly representing clients in the High Court and advising on administrations and contentious insolvency proceedings. Associate Kathryn McIvor contributes strong commercial insight and technical precision, ensuring complex cases are handled efficiently and effectively. Together, they form a cohesive, expert team capable of managing everything from sensitive administrations to intricate liquidations.
“Insolvency is often viewed solely through a negative lens,” says Richard Craig. “But in most cases, it should be seen as the beginning of a recovery journey. Our job is to guide businesses and stakeholders through uncertainty with confidence, protecting operations, securing employment, and finding a clear path forward. That’s what makes Mills Selig unique: we don’t just advise; we navigate the process alongside our clients.”
Today’s economic climate makes that guidance more critical than ever. Businesses across Northern Ireland face mounting pressure from inflation, energy costs, tighter credit conditions, and supply chain disruption. Some struggle with sudden cash-flow crises, others with legacy debts or contractual challenges. In these situations, Mills Selig’s team works closely with Insolvency Practitioners (IPs), directors and creditors to explore early intervention strategies, restructure operations, renegotiate debt, and identify formal rescue procedures where appropriate.
The team provides practical, clear guidance on directors’ duties and potential personal liabilities, while ensuring creditors understand how to safeguard and maximise their interests. By blending commercial insight with legal expertise, the team is proficient in finding solutions even in the most challenging environments. Their goal is simple: to turn complexity into opportunity. “Early intervention is key.” continues Richard. “ Whether they are creditor or a debtor, every business will have more options available to them if they seek professional advice at the earliest stage possible.”
If your business or businesses you trade with are facing financial uncertainty, get in touch with Mills Selig’s Restructuring and Insolvency team. Visit www.millsselig.com to learn more.