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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.

Victoria's Secret UK slips into administration

Next appear a perfect fit for Victoria's Secret

15th September 2020

Next has oficially signed its joint venture deal for the UK...

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Archant calls on CVA and pension lifeboat in rescue deal

Archant calls on CVA and pension lifeboat in rescue deal

Archant, one of Britain’s oldest newspaper publishers, is turning to the...

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Pre-pack deal rescues Travelex, but results in the loss of 1,300 jobs

Pre-pack deal rescues Travelex, but results in the loss of 1,300 jobs

Foreign exchange firm, Travelex, collapsed into administration, with the...

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CVA eyed up by River Island

CVA eyed up by River Island

River Island becomes the latest retailer to eye up a Company Voluntary...

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Drayton Manor file a notice of intention

French firm rescues Drayton Manor from administration

Update...

Drayton Manor has been sold out of administration to French firm,...

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Montgomery teams up with Endless in takeover bid for regional newspaper group Archant

Montgomery teams up with Endless in takeover bid for regional newspaper group Archant

David Montgomery’s listed vehicle, National World, and investment firm, Endless,...

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JD Sports buys back Go Outdoors after putting it into administration

Go Outdoors creditors to get just 1p in the £1

20 July 2020

It is heard that unsecured creditors of Go Outdoors, may just get...

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Zizzi and Ask Italian owner secures rescue deal which includes 75 store closures

Zizzi and Ask Italian owner secures rescue deal which includes 75 store closures

Azzurri Group, the owner of Zizzi and Ask Italian, has been sold out of...

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Oliver Sweeney falls into administration

Oliver Sweeney falls into administration

Oliver Sweeney is heard to have called in administrators for its retail...

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Monthly Insolvency Statistics: June 2020

Monthly Insolvency Statistics: June 2020

The Insolvency Service publish the third release in its monthly series to...

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Cafe Rouge Owner Goes into Administration

Talks with interested parties progress over buying Casual Dining Group

12 July 2020

It has been reported that Epiris, the buyout firm, is having...

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Over 24,000 jobs have been lost so far in 2020 by UK retailers alone

Over 24,000 jobs have been lost so far in 2020 by UK retailers alone

New research from the Centre for Retail Research (CRR), reports that over 24,000...

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A Worried Director

The Ultimate Guide For Worried Directors

Worried about poor cashflow? Covid-19?, How to pay wages on pay day? For expert advice on a range of issues download our free Ultimate Guide For Worried Directors today. Or just call us on 0800 9700539

Please note that the guide includes updates due to Covid-19 For instance there have been some changes to insolvency legislation that limits creditors actions and relaxes rules regarding wrongful trading.  A new 20 day moratorium for distressed businesses has also been introduced. 

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