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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.

Caffe Nero appoint KPMG to assess options

CVA vote gives CVA approval for Caffe Nero

2.12.2020

Gerry Ford,  the controlling stakeholder of Nero Holdings, pledges a...

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Lenders draft in advisers for Cineworld

Cineworld eye up a CVA

23 November 2020

Sky News reports that Cineworld has secured a £552m ($750m)...

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Could it be a CVA for Revolution Bars?

Revolution Bars CVA wins backing of creditors and landlords

13 November 2020

Reports say that Revolution Bars has been saved by its...

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Hotter plan to launch a CVA

Hotter Shoes to be put up for sale

13 November 2020

This morning we hear that Hotter Shoes, Britain's biggest...

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Pizza Express draw up plans for a CVA

Pizza Express CVA Approved - 73 restaurants to close

29 October 2020

Despite creditors agreeing a restructuring deal in September...

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Monthly Insolvency Statistics: September 2020

Monthly Insolvency Statistics: September 2020

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

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Ann Summers moots a CVA

Ann Summers move closer to a CVA

6 October 2020

Ann Summers has now confirmed it is likely to launch a CVA. ...

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Monthly Insolvency Statistics: August 2020

Monthly Insolvency Statistics: August 2020

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

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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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Wasabi becomes the latest casual dining chain to launch a CVA

Wasabi becomes the latest casual dining chain to launch a CVA

Grab-and-go sushi and bento chain, Wasabi, becomes the latest casual dining...

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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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A Worried Director

The Ultimate Guide For Worried Directors

Worried about poor cashflow? Feel you have got into a bit of a mess? Covid-19?, How to pay wages on pay day? For reassuring 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.  A new 20 day moratorium for distressed businesses has also been introduced. 

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