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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.

HMRC to become Preferential Creditors

HMRC to become Preferential Creditors in December 2020

On 1 December 2020 a change in the law means that the way in which some...

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Christmas Killer or Christmas Saviour

Christmas Killer or Christmas Saviour

As details slowly emerge about the Government’s plans at the end of this 2nd...

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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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Clarks plots permanent store closures

Landlords approve Clarks' CVA

23 November 2020

Landlords apprive a rescue deal for Clarks. It allows 60 of...

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One in seven companies risk collapse in the next 12 weeks

One in seven companies risk collapse in the next 12 weeks

The Office for National Statistics share this morning, results from a survey it...

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Monthly Insolvency Statistics: October 2020

Monthly Insolvency Statistics: October 2020

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

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Wahaca to propose a CVA

Nando's owner acquires stake and provides investment for Wahaca

17 November 2020

Dick Enthoven, billionaire owner of Nandos, has agreed to...

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Everyman cinema chain hires in advisers

Everyman cinema chain hires in advisers

Everyman, the cinema chain, becomes the latest in the cinema industry to hire...

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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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LK Bennett in Administration Move

Reported CVA proposals for LK Bennett

12 November 2020

It is reported that womenswear retailer, LK Bennett are...

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New Look landlords Challenge CVA

New Look refinance complete refinance scheme

10th November 2020

New Look announce completion of its refinancing scheme which...

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