News of Companies That Have Gone Bust in the UK

closing down sign

The listings included on this page are of companies that have gone into administration, CVA or liquidation.  It is not a definitive list but a summary of the major company failures in the UK. 

Why do companies go bust?

It should be noted that a company “failing” or closing down is not the same thing as one going bust. A failing business can be defined as one that has not been successful in its aims. If it can’t generate enough money to pay its owners/shareholders then it might just cease trading and the directors wind up the company. There are thousands of such ventures and many of the owners/directors have another go and may well go on to succeed.

Going bust is basically where the business cannot continue in its present form, as it owes too much money and the creditors want it back! These creditors can be; HMRC, Banks or other Lenders, Trade Suppliers.

It should also be noted that an insolvent company i.e one that owes its creditors more than it has in cash/assets, is not actually bust. It can continue as long as it has cash to pay for essential activities and no one is putting pressure on the business to repay the debt.

See this page on Help for Companies affected by Coronavirus. It will be updated daily.

Sir Richard Bransons' Virgin Atlantic Airways puts advisers on standby

Sir Richard Bransons' Virgin Atlantic Airways puts advisers on standby

28.06.2020

Virgin Atlantic Airways is racing to stitch together a £900m...

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Administrators put on standby for shopping centre giant, Intu

Intu has gone into administrators after failing to reach an agreement with lenders

26 June 2020

Retail property giant, Intu, has confirmed that it has...

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Victoria's Secret UK slips into administration

M&S and Next battle over the UK arm of Victoria's Secret

26th June 2020

Sky News learns that Marks & Spencer and Next are battling to...

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A landlord’s and tenant’s guide to commercial rent arrears recovery (CRAR)

For the better part of 250 years, landlords enjoyed the right to claim...

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JD Sports buys back Go Outdoors after putting it into administration

JD Sports buys back Go Outdoors after putting it into administration

23 June 2020

JD Sports buy back Go Outdoors for £56.5m, in a pre-pack deal.

De...

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Hotter plan to launch a CVA

Hotter plan to launch a CVA

Shoe retailer, Hotter, prepare to launch a Company Voluntary Arrangement (CVA)...

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Restaurants going bust not just because of Coronavirus

Restaurants going bust not just because of Coronavirus

Even before the Covid-19 crisis the casual dining sector was in serious trouble...

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All Saints propose CVA

All Saints propose CVA

Contemporary fashion retailer, All Saints launch a Company Voluntary Arrangement...

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oasis fashion logo

Boohoo to purchase the online businesses of Oasis and Warehouse

17/06/2020

Almost two months after Hilco Capital secured a deal to buy the...

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Travelodge looking at a CVA again

Travelodge CVA proposal unveiled

16.06.2020

Today we are informed that Travelodge has sweetened its offer to...

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Pre-pack administration deal secures Oak Furniturelands' future

Pre-pack administration deal secures Oak Furniturelands' future

Oak Furnitureland has been acquired by global investment management firm,...

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CVA proposal unveiled for Poundstretcher

CVA proposal unveiled for Poundstretcher

Poundstretcher launch a company voluntary arrangement (CVA) proposal which...

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