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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.

Laura Ashley saved from administration

Laura Ashley saved from administration

14.05.2020

The Pension Protection Fund (PPF) is pressing for restructuring...

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New statistics show a decrease in overall company insolvencies for England, Scotland and Northern Ireland

New statistics show a decrease in overall company insolvencies for England, Scotland and Northern Ireland

The insolvency statistics for Q1 2020 (England, Scotland and Northern...

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Virgin Australia expected to go into Voluntary Administration

Virgin Australia collapses into Voluntary Administration

Cash-strapped airline, Virgin Australia (Virgin Australia...

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Beales Department Store collapses into administration

Beales Department Store closes all its remaining stores earlier than expected

18 March 2020

Coronavirus has prompted the remaining Beales department stores...

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Flybe collapses into administration overnight

Flybe collapses into administration overnight

UK airline Flybe collapses into administration after a bid for additional...

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Soak.com, the bathroom retailer has been placed into administration

Soak.com, the bathroom retailer, has been placed into administration

Corporate recovery specialist in Manchester, Leonard Curtis have been appointed...

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muddy runners

Successful sale of Tough Mudder Ltd to Spartan Race Inc

13th February 2020

After fears over the future for Tough Mudder arose last...

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The Book People has gone into administration

The Book People to end operations by Easter

05/02/2020:

No buyer has been sought for The Book People after its fall into...

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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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Hawkins Bazaar in administration Again!

Hawkins Bazaar in administration Again!

Toy Retailer, Hawkins Bazaar enters administration with the future of its 20...

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Owner of Supercuts goes into Administration

A rescue deal for Supercuts

UPDATE: 11/12/2019

Budget hair salon, Supercuts secure a rescue deal and save...

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Jessops In Administration Again

Jessops In Administration Again

The property arm of Peter Jones owned camera retailer, Jessops, calls in...

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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 includes updates due to Covid-19 For instance 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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