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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.

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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Arcadia brand Outfit is to have its stores closed down by the end of the month

Arcadia brand Outfit is to have its stores closed down by the end of the month

19 January 2021

Deloitte, administrators of Sir Philip Green's Arcadia empire...

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Monthly Insolvency Statistics: December 2020

Monthly Insolvency Statistics: December 2020

The Insolvency Service publish the ninth release in its monthly series to...

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Over 175,000 retail jobs lost in 2020 by administrations, rationalisations and CVAs

Over 175,000 retail jobs lost in 2020 by administrations, rationalisations and CVAs

Looking over some statistics for  2020 it has been sobering to discover that...

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Bonmarche goes into administration in latest blow to High Street

Bonmarche collapse into administration just months after rescue

December 2020

Just months after being brought out and around a year after first...

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New Look landlords Challenge CVA

New Look refinance complete refinance scheme

10th November 2020

New Look announce completion of its refinancing scheme which...

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Administrators put on standby for shopping centre giant, Intu

KPMG sell off four more Intu shopping centres

19 October 2020

Over a handful of Intu shopping centers have been saved...

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Monthly Insolvency Statistics: September 2020

Monthly Insolvency Statistics: September 2020

The Insolvency Service publish the sixth release in its monthly series to...

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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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