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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.

Select consider yet another CVA

Select consider yet another CVA

Fashion retailer, Select is said to be considering launching another company...

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Byron Burgers in Administration Notice

Byron Burgers flips out of administration, saved by a pre-pack

31 July 2020

Sky News reports that Byron Burgers will be sold to Calveton UK as...

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Bella Italia owner in talks with creditors about a restructuring

Bella Italia owner in talks with creditors about a restructuring

Just hours after the below news was shared, we are informed that the owner of...

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Company insolvency statistics are released for Q4 2019

Company insolvency statistics are released for Q4 2019

The insolvency statistics for Q4 2019 (England, Scotland and Northern...

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Tossed Logo

Tossed Salad Bars Looking at CVA

Zest Food, the owner of Tossed and Vital Ingredient which serve salads to busy...

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Clintons looks at a CVA to put pressure on landlords

Clintons looks at a CVA to put pressure on landlords

It has been reported by Sky News that directors at Clintons, the Card retailer,...

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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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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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Debenhams' CVA To Be Challenged in Court

Debenhams' CVA To Be Challenged in Court

Update:

Debenhams has lined up Deloitte as administrators in the event that...

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Bury FC logo

Bury FC Delay CVA despite Winding Up Petition

Manchester based football club, Bury FC, have requested more time for them to...

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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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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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