In a letter to May published Monday, Jean Claude Juncker and Donald Tusk, the presidents of the European Commission and Council, offered some assurances over the Brexit deal in an attempt to help her win Tuesday's vote.
"No it is not ideal".
London Chamber of Commerce and Industry chief executive Colin Stanbridge said: 'The adverse impact of the uncertainty is nothing compared to the economic disaster that will ensue if this country leaves the European Union without a deal.
The deal, which is meant to establish terms for the March 29 exit and beyond, has been criticized from all sides, including from within May's own party.
Here's a look at what might happen if lawmakers vote down the deal.
MPs had been due to vote first on a series of four amendments chosen by Speaker John Bercow.
Corbyn said renegotiations can not be ruled out if MPs reject the current deal. "Surely this is the real threat to our union". The result means her position as leader of the party can not be challenged for 12 months.
There is nothing to stop the government bringing back the same deal again and again to the House of Commons until either MPs accept it, or seek to remove May, who faces a no-confidence vote on Wednesday called by the opposition Labour Party.
And this is the latest in my slide, saying to MPs, "It's my deal, it's this deal or we're not going to have a Brexit".
British Prime Minister Theresa May's Brexit divorce deal may not be, as one opposition lawmaker called it, "as dead as the deadest dodo", but it is definitely ailing.
But with no clear majority in Parliament for any single alternate course, there is a growing chance that Britain may seek to postpone its departure date while politicians work on a new plan.
"It is also time for Jeremy Corbyn to find his backbone, drop his plans for a Labour-led Brexit, and back our calls for a People's Vote".
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It followed more than two years of political upheaval in which May has staked her political reputation on getting a Brexit deal and was the biggest defeat for a government in the House of Commons in modern history. "The time has now come for all of is in this House to make a ... a decision that each of us will have to justify and live with for many years to come".
May could resign as leader of the Conservative Party, triggering an internal contest to replace her without a general election.
"With today's decision the majority of parliament has done its country a disservice".
Pro-Brexit lawmakers worry that Britain could be trapped indefinitely in the backstop, unable to strike new trade deals around the world.
A diplomatic source told AFP any extension would not be possible beyond June 30, when the new European Parliament will be formed.
European Council President Donald Tusk highlighted the quagmire the United Kingdom had sunk into, and hinted that the best solution might be for Britain not to leave.
A major issue in the pre-Brexit wrangling has been around the border between Northern Ireland and the Republic of Ireland.
"While no deal remains a serious risk...it is now my judgment that the more likely outcome is a paralysis in Parliament that risks there being no Brexit", said May.
Several MPs voiced support for a second referendum, but a Norway-style "soft Brexit" also won key backing during the debate.
Among those not selected were a couple the government were believed to be sympathetic to, in the hope they would reassure MPs over the so-called backstop arrangement for the Irish border.
"Either way, we will have to negotiate a transition period with them because the British can not afford to no longer have planes taking off or landing at home, and their supermarkets, as much as 70 percent, is supplied with (products) from continental Europe", Macron added.