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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.

Travelodge CVA Success Story Continues

Travelodge CVA Success Story Continues As It Announces Plans To Open 17 New Hotels

Travelodge has announced plans to open 17 new hotels this year, creating over...

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Landlords To Challenge Clarks' CVA

Landlords To Challenge Clarks' CVA

26 April 2021

A group of landlords have filed a legal challenge to the...

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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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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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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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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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Claim that retailers are abusing CVAs: BRC responds

Claim that retailers are abusing CVAs: BRC responds

According to the British Retail Consortium (BRC), landlords which have been...

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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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Moss Bros eye up a CVA

CVA proposal given the green light by Moss Bros' creditors

16 December 2020

More than 80% of Moss Bros' creditors have approved its CVA...

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Caffe Nero appoint KPMG to assess options

CVA vote gives CVA approval for Caffe Nero

2.12.2020

Gerry Ford,  the controlling stakeholder of Nero Holdings, pledges a...

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Lenders draft in advisers for Cineworld

Cineworld eye up a CVA

23 November 2020

Sky News reports that Cineworld has secured a £552m ($750m)...

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Could it be a CVA for Revolution Bars?

Revolution Bars CVA wins backing of creditors and landlords

13 November 2020

Reports say that Revolution Bars has been saved by its...

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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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