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.

Creditors Approve Jigsaw CVA

Creditors Approve Jigsaw CVA

4 September 2020

Creditors have approved Jigsaw's CVA which will see it close...

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Accident Repair Logo

Nationwide Accident Repair Services Goes Into Administration

Nationwide Accident Repair Services has gone into administration as car...

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Sir Richard Bransons' Virgin Atlantic Airways puts advisers on standby

Virgin Atlantic to cut 1000+jobs despite rescue deal winning backing

03.09.2020

After its creditors backed its £1.2bn rescue deal, Virgin Atlantic...

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Hayford & Rhodes is sold to McQueens Flowers

KSA Group is pleased to announce that one of the oldest luxury florists in...

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Moss Bros eye up a CVA

Moss Bros eye up a CVA

Moss Bros has hired KPMG to prepare itself for a company voluntary arrangement...

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Archant calls on CVA and pension lifeboat in rescue deal

Archant calls on CVA and pension lifeboat in rescue deal

Archant, one of Britain’s oldest newspaper publishers, is turning to the...

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Chilango sold out of administration

UPDATE: 27th August

Cityam.com report that today, Chilango told investors that...

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Administration for DW Sports with 1,700 jobs at risk

Mike Ashley rescues DW Sports from administration

24 August 2020

Mike Ashley buys rival gym and fitness business, DW Sports from...

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Wasabi becomes the latest casual dining chain to launch a CVA

Wasabi becomes the latest casual dining chain to launch a CVA

Grab-and-go sushi and bento chain, Wasabi, becomes the latest casual dining...

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YO! Sushi joins the list of restaurant chains exploring a CVA

CVA proposal for YO! Sushi expected to be filed later today

14 August 2020

YO! has formally decided to launch a company voluntary...

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Monthly Insolvency Statistics: July 2020

Monthly Insolvency Statistics: July 2020

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

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CVA approved for The Baird Group

12 August 2020

Creditors of The Baird Group, one of the licencees for Ben...

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