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.

Hotter plan to launch a CVA

Hotter submits CVA proposal

10 July 2020

It is reported that shoe retailer, Hotter, has submitted its...

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All Saints propose CVA

All Saints CVA given the green light

7 July 2020

All Saints has had its CVA proposals approved by the 75 per cent of...

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Poundstretcher's CVA Approved

Poundstretcher's CVA Approved

Update: Poundstretchers has had its CVA proposal approved. 

More than 90 per...

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Monsoon in administration rumours

A further 57 stores to be saved for Monsoon Accessorize

01 July 2020

It has been reported that Monsoon Accessorize have revealed a...

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Travelodge looking at a CVA again

Travelodge CVA proposal unveiled

16.06.2020

Today we are informed that Travelodge has sweetened its offer to...

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Monthly Insolvency Statistics: May 2020

Monthly Insolvency Statistics: May 2020

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

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Clarks plots permanent store closures

Clarks’ ‘Made to Last’ turnaround strategy slashes 900 jobs

21 May 2020

Around 900 office jobs are to be cut at Clark’s as part of its...

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Scottish hotel and tour operator cuts 100 jobs

Scottish hotel and tour operator cuts 100 jobs

After collapsing amid the coronavirus pandemic, a Scottish hotel and tour...

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Company insolvency statistics are released for Q4 2019

Company insolvency statistics are released for Q4 2019

The insolvency statistics for Q4 2019 (England, Scotland and Northern...

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Mamas & Papas collapses into administration

Mamas & Papas collapses into administration

73 staff have been made redundant with immediate effect and 54 additional head...

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Company Insolvencies in Scotland decreased by a third in Q3 2019.

Company Insolvencies in Scotland decreased by a third in Q3 2019.

The most recent analysis by KPMG, indicates that the amount of companies...

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Jack Wills owed over £100m to creditors

Jack Wills owed over £100m to creditors

It was only earlier this summer that we heard rumours of Jack Wills going down...

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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 was mostly written pre Covid-19 and 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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