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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.  Once a company has a winding up petition issued against it this tends to crystallise the situation.

Hospitality Venues Closing At A Rate Of 16 A Day

Hospitality Venues Closing At A Rate Of 16 A Day

The latest market recovery monitor from industry consultants CGA, and business...

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UK arm of International Currency Exchange collapses

UK arm of International Currency Exchange collapses

The UK arm of currency exchange provider, International Currency Exchange (ICE),...

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Caffe Nero CVA Challenge Fails

CVA for Caffe Nero Challenge By Some Landlords Fails

01 October 2021

The High Court has dismissed an application by a landlord...

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The End of Furlough Today

Are you prepared?

So, as the pandemic starts to come to an end (of sorts),...

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An update on Kelham Hall post-rescue

September 2021

An update on the most recent affairs of rescued, Kelham Hall.

A...

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Chilled foods distributer, EVCL Chill, is on the brink of collapse

Chilled foods distributer, EVCL Chill, is on the brink of collapse

EVCL Chill, the chilled foods distributor, is on the brink of collapse following...

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Monthly Insolvency Statistics: August 2021

Monthly Insolvency Statistics: August 2021

The Insolvency Service publish the seventeenth release of its monthly series to...

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Buddy Loans, the guarantor lender, enters administration

Advancis LTD, the guarantor lender which trades as Buddy Loans, has entered...

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Tricorn to Appoint Administrators

Worcestershire-based tubing manufacturer, Tricorn could be placed into...

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FRC Launches Formal Complaint Against KPMG Regarding Carillion Collapse

FRC Launches Formal Complaint Against KPMG Regarding Carillion Collapse

Update 6th September 2021

UK audit watchdog, the Financial Reporting Council...

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New figures suggest that 50 shops closed each day in the first six months of 2021

New figures suggest that 50 shops closed each day in the first six months of 2021

According to new research findings, more than 8,700 (8,739) chain stores of...

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Liquidation for DAC Pensions

The Cambridgeshire-based Financial Conduct Authority (FCA) registered...

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