The article examines how U.K. companies manage their cash flow during unexpected events. It looks at the actual practices companies use and how these relate to the characteristics of the company and its finance department. The study aims to bridge the gap between theory and real-world practices in liquidity management. The research is important because companies have been struggling with the unpredictable business environment in recent years. The findings will help improve how companies handle their finances and how finance is taught in business courses.