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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.

Landlords Lose Case Against New Look's CVA

Landlords Lose Case Against New Look's CVA

Yet again the High Court has upheld the power of the CVA mechanism as a way of...

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New data reports the largest jump in number of businesses facing significant financial distress since 2014

New data reports the largest jump in number of businesses facing significant financial distress since 2014

The most recent Red Flag Alert report, produced by insolvency firm, Begbies...

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Some Bonmarche stores may never reopen

Some Bonmarche stores may never reopen

April 2021

Many jobs are at risk at Bonmarché as administrators decide how many...

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The UK arm of Brooks Brothers goes into administration as suits fall out of fashion

The UK arm of Brooks Brothers goes into administration as suits fall out of fashion

The UK division of Brooks Brothers, the US business attire retailer, has gone...

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A-list designer Ralph & Russo enters administration

A-list designer Ralph & Russo nears administration

18 March 2021

Following yesterday's reports, today it has been announced that...

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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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Arcadia collapses with a £510m pension deficit and £800m owed to creditors

Arcadia collapses with a £510m pension deficit and £800m owed to creditors

19 February 2021

Some outcomes of Arcadias collapse have been revealed:

...

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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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Company Insolvencies in Q4 2020 were lower compared to that of Q4 2019 for England, Wales, Scotland and Northern Ireland

Company Insolvencies in Q4 2020 were lower compared to that of Q4 2019 for England, Wales, Scotland and Northern Ireland

The statistics for Company Insolvencies in UK, Northern Ireland and Scotland for...

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Paperchase saved by a pre-pack

Paperchase saved by a pre-pack

28 January 2021

Paperchase has been rescued by a pre-pack administration to...

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Administration for company behind Londons' Richoux  and Villagio

Administration for company behind Londons' Richoux and Villagio

The firm behind London’s century-old Richoux afternoon tea rooms and a list of...

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A Worried Director

The Ultimate Guide For Worried Directors

Worried about poor cashflow? Covid-19?, How to pay wages on pay day? For expert 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 and relaxes rules regarding wrongful trading.  A new 20 day moratorium for distressed businesses has also been introduced. 

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