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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.

Scottish department store Watt Brothers enters administration

Scottish department store Watt Brothers enters administration

Scottish department store chain, Watt Brothers has fallen into administration...

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Company Insolvencies in Scotland decreased by a third in Q3 2019.

Company Insolvencies in Scotland decreased by a third in Q3 2019.

The most recent analysis by KPMG, indicates that the amount of companies...

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Jessops Property Division to Appoint Administrators And Retailer To Use A CVA To Close StoresJessops Property Division to Appoint Administrators And Retailer To Use A CVA To Close Stores

Jessops Property Division to Appoint Administrators And Retailer To Use A CVA To Close Stores

The Dragon's Den investor, Peter Jones, who bought the Jessops camera retailer...

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The Outcome of the EFLs extensions to Bury FC and Bolton WanderersThe Outcome of the EFLs extensions to Bury FC and Bolton Wanderers

The Outcome of the EFLs extensions to Bury FC and Bolton Wanderers

UPDATE

Today, we hear that Bury FC are facing a winding up order at the High...

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Links of London Goes Into Administration

Links of London Goes Into Administration

In another blow to the High Street and the retail sector generally, Links of...

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Pizza Express Talks With Creditors Alarms Dedicated Fans Of The Brand

Pizza Express's Talks With Creditors Alarms Dedicated Fans Of The Brand

Pizza Express has been in the news as it emerged that the restaurant chain has...

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Prezzo's CVA strategy appears to be working

Prezzo's CVA strategy appears to be working

I recently read an article in The Caterer , indicating that Prezzo is doing the...

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The Belfast Shipyard, Harland and Wolff, famous for building the Titanic has been saved

A £6 million rescue deal brings Harland & Wolff out of administration threat

Update: Harland and Wolff have been brought out and saved in a £6m rescue deal...

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Construction Industry in Decline

The UK construction sector suffered a large drop due to Brexit uncertainty and...

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Wrightbus To Go Into Administration

Wrightbus To Go Into Administration

It has been confirmed that Wrightbus, the Ballymena-based Boris Bus maker, known...

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Abokado logo

Abokado Company Voluntary Arrangement (CVA) is approved by creditors

Update:  98% of creditors have approved the CVA

The “Pacific-inspired” chain...

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Thomas Cook In Liquidation

Thomas Cook In Liquidation

At 2am this Monday morning, the UK Civil Aviation Authority announced that...

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