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.

Monthly Insolvency Statistics: August 2020

Monthly Insolvency Statistics: August 2020

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

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Caffe Nero appoint KPMG to assess options

Caffe Nero appoint KPMG to assess options

It is understood that high street coffee chain, Caffe Nero, is the latest to...

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CVA on the menu for Pizza Hut UK

Further CVA details revealed for Pizza Hut

9 September 2020

Further details are heard regarding Pizza Hut and the...

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Pizza Express draw up plans for a CVA

Pizza Express CVA Approved - 73 restaurants to close

7 September 2020

Pizza Express has announced that its creditors have approved...

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Ann Summers moots a CVA

Ann Summers threatens landlords with a CVA

Rumours have it that lingerie and sex toy retailer, Ann Summers is poised to...

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Moss Bros eye up a CVA

Moss Bros eye up a CVA

Moss Bros has hired KPMG to prepare itself for a company voluntary arrangement...

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Archant calls on CVA and pension lifeboat in rescue deal

Archant calls on CVA and pension lifeboat in rescue deal

Archant, one of Britain’s oldest newspaper publishers, is turning to the...

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Wasabi becomes the latest casual dining chain to launch a CVA

Wasabi becomes the latest casual dining chain to launch a CVA

Grab-and-go sushi and bento chain, Wasabi, becomes the latest casual dining...

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YO! Sushi joins the list of restaurant chains exploring a CVA

CVA proposal for YO! Sushi expected to be filed later today

14 August 2020

YO! has formally decided to launch a company voluntary...

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CVA approved for The Baird Group

12 August 2020

Creditors of The Baird Group, one of the licencees for Ben...

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Select consider yet another CVA

Select consider yet another CVA

Fashion retailer, Select is said to be considering launching another company...

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WHSmith demand rent cuts from landlords

WHSmith demand rent cuts from landlords

WHSmith is reportedly demanding rent cuts from its landlords, just days after it...

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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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