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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.

Jack Wills owed over £100m to creditors

Jack Wills owed over £100m to creditors

It was only earlier this summer that we heard rumours of Jack Wills going down...

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SpudULike shut all 37 branches overnight, leaving 300 staff shocked and jobless

SpudULike shut all 37 branches overnight, leaving 300 staff shocked and jobless

SpudULike, the baked potato fast food chain, has closed all of its 37 branches,...

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Retailers increasingly turn to CVAs to restructure their businesses

Retailers increasingly turn to CVAs to restructure their businesses

UK High Street flagging as retailers increasingly turn to CVAs

Figures from the...

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Failure of CVA for Paton Brown leaves a pre-pack

Failure of CVA for Paton Brown leaves a pre-pack

The direct mail company, located in Ashton-under-Lyne, Paton Brown has fallen...

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Homebase creditors approve CVA

Homebase creditors approve CVA

Homebase creditors have voted in favour of the Company Voluntary Arrangement...

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Office Outlet, former Staples chain, Confirms CVA

Office Outlet, former Staples chain, Confirms CVA

One of the UK’s biggest stationery retailers, Office Outlet, formerly known as...

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Gin Festival goes into administration and tickets will not be refunded

Gin Festival goes into administration and tickets will not be refunded

The Ginfestival.com has gone into administration with the loss of 27 jobs and...

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Carpetright to close 92 stores as part of major restructure

Carpetright to close 92 stores as part of major restructure

Carpetright has introduced a set of sweeping measures as part of a major...

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toys r us cva

Administration risk for Toys R us

Update. 

It looks as if the situation with Toys R Us is deteriorating as Hilco...

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Dreamland uses CVA to exit administration

A Company Voluntary Arrangement (CVA), will allow this famous seaside attraction...

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Store Twenty One proposes company voluntary arrangement (CVA)

Update: The CVA has been approved by 90% of creditors, therefore it will go...

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Shoon to go into a CVA

The footwear retailer has revealed its proposals to enter a company voluntary...

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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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