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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.

The Death of Pre Pack Administration to Connected Directors & Shareholders?

The Death of Pre Pack Administration to Connected Directors & Shareholders?

New laws regarding Pre Pack Administrations come in April 2021. It mainly...

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Manchester pubs contribute to Stonegates £746m losses

The UK’s largest pub company Stonegate has revealed that the enforced closure of...

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Lender to Liberty Steel goes into administration

19/3/2021

Following the administration of Greensill Capital last week, almost...

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Buy2LetCars crashes into administration

Buy2LetCars crashes into administration

Buy2LetCars, the firm offering investments in subprime car leases, falls into...

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Monthly Insolvency Statistics: February 2021

Monthly Insolvency Statistics: February 2021

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

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Fresh creditor talks for Virgin Atlantic over a £160m injection following further travel restrictions

Fresh creditor talks for Virgin Atlantic over a £160m injection following further travel restrictions

Latest: 13/3/2021

Virgin Atlantic Airways is in talks with shareholders and...

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Is administration going to be served for Angus Steakhouse?

Is administration going to be served for Angus Steakhouse?

It is heard tonight that KPMG has written to landlords of restaurant chain,...

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Pre-pack deal brings restaurant chain Fazenda out of administration

Pre-pack deal brings restaurant chain Fazenda out of administration

Yorkshire based restaurant chain, Fazenda, has been saved.

City District...

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Monthly Insolvency Statistics: January 2021

Monthly Insolvency Statistics: January 2021

The Insolvency Service publish the tenth release, and the first for 2021, of...

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Almost a third of business owners do not expect to be able to start trading again in 2021

Almost a third of business owners do not expect to be able to start trading again in 2021

Insolvency Practitioners KSA Group Ltd, through their website...

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Pre pack pool: How does it work and how much does it cost?

From 2nd November 2015, there have been changes to the way pre-pack...

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Pre-pack administration for Prezzo, with 216 jobs lost

Pre-pack administration for Prezzo, with 216 jobs lost

10 February 2021

22 Prezzo restaurants are to permanently close after Cain...

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