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.

YO! Sushi joins the list of restaurant chains exploring a CVA

CVA proposal for YO! Sushi expected to be filed later today

14 August 2020

YO! has formally decided to launch a company voluntary...

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CVA approved for The Baird Group

12 August 2020

Creditors of The Baird Group, one of the licencees for Ben...

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Select consider yet another CVA

Select consider yet another CVA

Fashion retailer, Select is said to be considering launching another company...

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WHSmith demand rent cuts from landlords

WHSmith demand rent cuts from landlords

WHSmith is reportedly demanding rent cuts from its landlords, just days after it...

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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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Hotter plan to launch a CVA

Hotter Shoes to close 46 stores as CVA gets the green light

31 July 2020

Hotter Shoes can move forward with its plans to permanently close...

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Travelodge looking at a CVA again

Travelodge landlords ready to say 'goodnight' as they set up a rival operator

26.07.2020

Some landlords (approx 80 hotels) of Travelodge are set to ditch the...

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Poundstretcher's CVA Approved

Area managers of Poundstretcher faces axe due to CVA

July 18 update

With the CVA underway, 10 out of 23 area managers were told they...

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Buzz Bingo announce CVA plans to protect its future

This news comes as part of a coronavirus crisis rescue deal for the group.

Buzz...

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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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All Saints propose CVA

All Saints CVA given the green light

7 July 2020

All Saints has had its CVA proposals approved by the 75 per cent of...

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Monsoon in administration rumours

A further 57 stores to be saved for Monsoon Accessorize

01 July 2020

It has been reported that Monsoon Accessorize have revealed a...

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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 was mostly written pre Covid-19 and 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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