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.

Monsoon's CVA Approved

Monsoon's CVA Approved

Update

Monsoon has had its CVA proposal approved so rent will be reduced on...

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Shoe retailer, Office step towards a CVA in the UKs current high street crisis

Shoe retailer, Office, steps towards a CVA

It has been reported that Office, the footwear chain owned by Truworths...

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Will Jack Wills Also Go Down The CVA Route?

Will Jack Wills Also Go Down The CVA Route?

It was reported in the Sunday Times that Jack Wills, the chain popular with...

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London Shopping Street

London Shops Less Affected By CVAs

New data collected for The Standard Newspaper and analysed by Property agents,...

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Retailers increasingly turn to CVAs to restructure their businesses

Retailers increasingly turn to CVAs to restructure their businesses

UK High Street flagging as retailers increasingly turn to CVAs

Figures from the...

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Company Voluntary Arrangements (CVAs) are not just for large national retailers!

We have seen recently a spate of large businesses such as Jamie's Italian, Byron...

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Arcadia's Topshop to go into a CVA

Arcadia's CVA has been approved _ Topshop

Update 12th June 2019:

Arcadia's CVA has been approved

Keith Steven, CVA...

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Why do CVAs get a bad press?

Why do CVAs get a bad press?

It is very simple, when a CVA succeeds very few people hear about it (it doesn't...

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Arcadia's CVA Proposals Published

Landlords Vote is Crucial for Future of Arcadia

Update 05.06.19

Today is the crunch date where the creditors will vote on the...

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Ann Summers in CVA Denial

Ann Summers in CVA Denial

It has been reported that Ann Summers, the lingerie retailer, is looking to use...

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snow and rock logo

Owners of Snow & Rock and Cotswold Outdoor looking at a CVA to close stores

CVA being looked into for the company who own Runners Need, Cotswold Outdoor and...

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Failure of CVA for Paton Brown leaves a pre-pack

Failure of CVA for Paton Brown leaves a pre-pack

The direct mail company, located in Ashton-under-Lyne, Paton Brown has fallen...

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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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