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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.

Arcadia brand Outfit is to have its stores closed down by the end of the month

Arcadia brand Outfit is to have its stores closed down by the end of the month

19 January 2021

Deloitte, administrators of Sir Philip Green's Arcadia empire...

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Reforms made to the Prompt Payment Code

Reforms made to the Prompt Payment Code

Firstly, what is the Prompt Payment Code (PPC)?

The PPC is a voluntary code of...

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2 Years On From Carillion's Collapse Directors Face Disqualification

2 Years On From Carillion's Collapse Directors Face Disqualification

The Insolvency Service has announced that

January 15th 2021, marks 3 years...

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Monthly Insolvency Statistics: December 2020

Monthly Insolvency Statistics: December 2020

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

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Edinburgh Woollen Mill has been bought out of administration

12 January 2021

Edinburgh Woollen Mill has been bought out of administration.

...

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M&S rescue collapsed fashion brand Jaeger

M&S rescue collapsed fashion brand Jaeger

11 January 2021

Marks and Spencers buy Jaegar out of administration. Purchase...

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FSB argues too many firms are falling through cracks in the offered government financial support

FSB argues too many firms are falling through cracks in the offered government financial support

A survey by the Federation of Small Businesses, revealed that around 250,000...

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Claim that retailers are abusing CVAs: BRC responds

Claim that retailers are abusing CVAs: BRC responds

According to the British Retail Consortium (BRC), landlords which have been...

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Wigan Athletic Goes Into Administration

Wigan Athletic administrators begin formal talks with three groups over potential sale

January 2021

After falling into administration in July last year,...

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HMRC to become Preferential Creditors

HMRC Are Now Preferential Creditors

Since 1 December 2020 a change in the law has meant that the way in which some...

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Caffe Nero Goes Into a CVA

CVA for Caffe Nero Challenged By Some Landlords

04 January 2021

Some landlords, including Lord Sugar, are seeking to challenge...

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Over 175,000 retail jobs lost in 2020 by administrations, rationalisations and CVAs

Over 175,000 retail jobs lost in 2020 by administrations, rationalisations and CVAs

Looking over some statistics for  2020 it has been sobering to discover that...

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