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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.

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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NMCN calls in administrators

NMCN calls in administrators

Listed engineering and construction specialist, NMCN and its subsidiary NMCN...

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Victoria's Secret UK slips into administration

Victoria's Secret UK goes into liquidation

30 July 2021

It has been reported that Victoria's Secret UK has gone into...

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Q2 2021: Company Insolvency Statistics

Q2 2021: Company Insolvency Statistics

The company insolvency statistics for the second quarter of 2021 (April to June)...

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Mazars appointed to liquidate the remains of collapsed Arcadia Group

Mazars appointed to liquidate the remains of collapsed Arcadia Group

14th July 2021

Auditing firm Mazars have been appointed to liquidate the...

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Jaguar Land Rover supplier in talks to avoid administration

Mr Gupta rescues JLRs supplier from insolvency

1 July 2021

Sanjeev Gupta rescues Liberty Aluminium Technologies (LAT) as it...

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A-list designer Ralph & Russo nears administration

Rescue deal saves Ralph & Russo

01 July 2021

US investment firm, Retail Ecommerce Ventures has rescued Ralph &...

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7,200 businesses saved by the insolvency and restructuring profession in 2019

7,200 businesses saved by the insolvency and restructuring profession in 2019

Insolvency and restructuring trade body, R3, released a new report which shared...

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Landlords Lose Case Against New Look's CVA But Can Appeal

Landlords Lose Case Against New Look's CVA But Can Appeal

17 May 2021

New Look Landlords have been granted leave to appeal to the Supreme...

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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 Worried Director

The Ultimate Guide For Worried Directors

Worried about poor cashflow? Feel you have got into a bit of a mess? Covid-19?, How to pay wages on pay day? For reassuring 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.  A new 20 day moratorium for distressed businesses has also been introduced. 

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