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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.

Manchester pubs contribute to Stonegates £746m losses

The UK’s largest pub company Stonegate has revealed that the enforced closure of...

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Lender to Liberty Steel goes into administration

19/3/2021

Following the administration of Greensill Capital last week, almost...

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A-list designer Ralph & Russo enters administration

A-list designer Ralph & Russo nears administration

18 March 2021

Following yesterday's reports, today it has been announced that...

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What if I Can't Pay Back My Coronavirus Business Interruption Loan (CBILS)

What if I Can't Pay Back My Coronavirus Business Interruption Loan (CBILS)

Directors may worry that they may not be able to pay back CBILS loans that have...

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Buy2LetCars crashes into administration

Buy2LetCars crashes into administration

Buy2LetCars, the firm offering investments in subprime car leases, falls into...

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High Court battle for New Look over CVA

High Court battle for New Look over CVA

17 March 2021

It has been reported that New Look has entered a High Court...

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Monthly Insolvency Statistics: February 2021

Monthly Insolvency Statistics: February 2021

The Insolvency Service publish the eleventh release, of its monthly series to...

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Fresh creditor talks for Virgin Atlantic over a £160m injection following further travel restrictions

Fresh creditor talks for Virgin Atlantic over a £160m injection following further travel restrictions

Latest: 13/3/2021

Virgin Atlantic Airways is in talks with shareholders and...

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If Virgin Active creditors do not approve its restructuring proposal, 2,500 jobs could be lost

Virgin Active set to use a controversial new restructuring mechanism

12 March 2021

An update on the situation: It is heard today that 2,500 jobs are...

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Moratorium on tenant evictions extended until the end of June 2021

The government has confirmed that it will extend a ban on the eviction of...

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Is administration going to be served for Angus Steakhouse?

Is administration going to be served for Angus Steakhouse?

It is heard tonight that KPMG has written to landlords of restaurant chain,...

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Pre-pack deal brings restaurant chain Fazenda out of administration

Pre-pack deal brings restaurant chain Fazenda out of administration

Yorkshire based restaurant chain, Fazenda, has been saved.

City District...

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