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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.  Once a company has a winding up petition issued against it this tends to crystallise the situation.

Two years of Covid-19 does £115bn damage to hospitality sector

The full extent of the damage done to the hospitality sector during the covid...

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Monthly Insolvency Statistics: January 2022

Monthly Insolvency Statistics: January 2022

The Insolvency Service publish the latest release of its monthly series to...

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Digme Fitness In Administration Move

Digme Fitness In Administration Move

Digme Fitness is set to have administrators called in as business takes a...

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Winding-up Petitions filed against Tycoon, Sanjeev Gupta's UK steel empire, by HMRC

Winding-up Petitions filed against Tycoon, Sanjeev Gupta's UK steel empire, by HMRC

In the latest news today, Sky has reported that HMRC have filed a winding-up...

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£20bn of Covid Loans May Be Written Off

Following the resignation of Lord Agnew of Oulton, the counter-fraud minister,...

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Ann Summers To Exit its CVA

Ann Summers To Exit its CVA

3 February 2022

Ann Summers has said that it has returned to profitability and...

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Online Retailer Shabby Goes Into Administration

An online retailer, based in Bradford, selling high-end “shabby chic” furniture...

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Q4 2021: Company Insolvency Statistics

Q4 2021: Company Insolvency Statistics

The company insolvency statistics for the fourth quarter of 2021 (October to...

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The Wolseley restaurant’s owner, Corbin & King, has been forced into administration

The restaurant firm behind celebrity hotspots The Wolseley and The Delauney has...

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Directors are being investigated over Bounce Back Loans

Directors are being investigated over Bounce Back Loans

New legislation has been enacted to make it easier to investigate and prosecute...

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Derby County In Liquidation Threat

Derby County In Liquidation Threat

24th January 2022

It has been reported that there have been no bids for Derby...

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Directors Disqualified For Abuse of Bounce Back Loan Scheme

The directors of Scholars Academy Ltd based in Brighouse, West Yorkshire. Aamer...

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