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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.

Prezzo's CVA strategy appears to be working

Prezzo's CVA strategy appears to be working

I recently read an article in The Caterer , indicating that Prezzo is doing the...

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The Belfast Shipyard, Harland and Wolff, famous for building the Titanic has been saved

A £6 million rescue deal brings Harland & Wolff out of administration threat

Update: Harland and Wolff have been brought out and saved in a £6m rescue deal...

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Construction Industry in Decline

The UK construction sector suffered a large drop due to Brexit uncertainty and...

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Wrightbus To Go Into Administration

Wrightbus To Go Into Administration

It has been confirmed that Wrightbus, the Ballymena-based Boris Bus maker, known...

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Abokado logo

Abokado Company Voluntary Arrangement (CVA) is approved by creditors

Update:  98% of creditors have approved the CVA

The “Pacific-inspired” chain...

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Thomas Cook In Liquidation

Thomas Cook In Liquidation

At 2am this Monday morning, the UK Civil Aviation Authority announced that...

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Thomas Cook in administration threat unless £200m can be found

Thomas Cook in administration threat unless £200m can be found

Update:  Thomas Cook has been put into liquidation as the £200m was not...

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Has Albermarle and Bond Gone Into Administration?

The BBC has reported that it seems all the shops have closed and no one is...

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closing shops

Stores Closing On The High Street Hit Record Levels

New research from PwC and the Local Data Company has found that a net 1,234...

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New research suggests that UK SMEs with women on the board are less likely to go bust

New research suggests that UK SMEs with women on the board are less likely to go bust

Insolvency Practitioners, KSA Group Limited, who run the website...

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Jack Wills owed over £100m to creditors

Jack Wills owed over £100m to creditors

It was only earlier this summer that we heard rumours of Jack Wills going down...

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Not so smart for Eversmart Energy as they become the sixth energy firm to collapse

Not so smart for Eversmart Energy as they become the sixth energy firm to collapse

29,000 households are awaiting a new supplier, since Manchester-based, Eversmart...

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