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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.

Byron Burgers Hires Advisors at KPMG

Byron Burgers Hires Advisors at KPMG

Byron Burgers has called in advisors from KPMG to see how it can survive the...

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Beales Department Store collapses into administration

Beales Department Store closes all its remaining stores earlier than expected

18 March 2020

Coronavirus has prompted the remaining Beales department stores...

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Care companies fear bankruptcy

Care companies fear bankruptcy

Coronavirus has left companies which support the elderly and disabled in their...

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Oldham Athletic could be in administration by the end of the week

An update on Oldham Athletic

17.03.2020

Oldham Athletic have agreed a deal with stadium owners, Brass Bank,...

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HMRC Preferred Status in Creditor Priority

HMRC Preferred Status in Creditor Priority

In the budget in 2019 the Chancellor, announced that HMRC will become a...

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Can 265-year-old Axminster Carpets avoid administration again?

Axminster Carpets' future gets secured

Update 08th March 2020

ACL Carpets rescue Axminster Carpets from...

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Flybe collapses into administration overnight

Flybe collapses into administration overnight

UK airline Flybe collapses into administration after a bid for additional...

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Insolvency Practitioners Association publishes first benchmark report on industry-first regulatory regime

Insolvency Practitioners Association publishes first benchmark report on industry-first regulatory regime

The Insolvency Practitioners Association (IPA), the UK’s largest and most...

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Sirius Minerals win rescue deal

Sirius Minerals win rescue deal

Yorkshire-based, Sirius Minerals has secured a rescue deal.

The deal is set to...

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Insolvency for Kent hotel, The Salutation

Insolvency for Kent hotel, The Salutation

The Kent-based hotel made famous by Gogglebox stars Steph and Dom Parker has...

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Homebase to exit its CVA early following its success

Homebase to exit its CVA early following its success

Homebase plans to end its company voluntary arrangement (CVA) a year and a half...

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Soak.com, the bathroom retailer has been placed into administration

Soak.com, the bathroom retailer, has been placed into administration

Corporate recovery specialist in Manchester, Leonard Curtis have been appointed...

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