The aim of this paper is to provide a brief overview of the informal pre‐insolvency proceedings available in the UK and France. In addition, the aim is to provide a comparative analysis of the approach taken towards corporate rescue at this early stage by the ‘key players’ in insolvency. In particular, emphasis will be placed on the role of insolvency practitioners and creditors as well as the involvement of the courts in pre‐insolvency restructurings. Finally, the paper considers the effectiveness of the pre‐insolvency mechanisms available in the two jurisdictions and assesses whether or not these promote and encourage a corporate rescue culture. Copyright © 2016 INSOL International and John Wiley & Sons, Ltd. Copyright © 2016 INSOL International and John Wiley & Sons, Ltd