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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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Buyer sought for Dawsons Music

Buyer sought for Dawsons Music

Dawsons Music, the historic UK music retailer enters administration.

Administra...

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Intu warns it could go bust unless it can raise additional finance

Intu hire restructuring boss to attempt fixing its balance sheet

01 May 2020

In attempt to fix its balance sheet, Intu, the struggling shopping...

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Pizza Express Served with Winding Up Petition

Pizza Express Served with Winding Up Petition

Pizza Express has been in the news lately as it emerged that the landlord of...

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New report suggests half of UK retailers will face administration this summer

New report suggests half of UK retailers will face administration this summer

A new report by Alvarez & Marsal, joint with Retail Economics, suggests that...

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Administration for womenswear brand Autonomy

Womenswear clothing brand Autonomy enters administration with all its 44...

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Can 265-year-old Axminster Carpets avoid administration again?

Axminster Carpets' future gets secured

Update 08th March 2020

ACL Carpets rescue Axminster Carpets from...

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Homebase to exit its CVA early following its success

Homebase to exit its CVA early following its success

Homebase plans to end its company voluntary arrangement (CVA) a year and a half...

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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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Insolvency costs hit a seven year high following a number of high-profile failures

Insolvency costs hit a seven year high following a number of high-profile failures

New statistics from property advisor, Altus Group, show that during 2019, the...

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Retail sales improve in January after a weak end to 2019

Retail sales improve in January after a weak end to 2019

New findings from the Office for National Statistics show that, after falls in...

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laura ashley

Laura Ashley in trouble again just a year after going into administration

Laura Ashley, the fashion and home retailer, saw its shares fall today by 41%...

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