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.

Could it be a CVA for Revolution Bars?

Could it be a CVA for Revolution Bars?

Revolution Bars shares how challenges to its recovery since the national...

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Aspinal of London launches CVA proposal

Aspinal of London launches CVA proposal

Aspinal of London, the leather goods and handbag brand, is heard to be seeking a...

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Business Interruption Insurance Covers Covid-19 Lockdown In Some Policies

Business Interruption Insurance Covers Covid-19 Lockdown In Some Policies

The High Court has ruled in favour of a group of insured businesses....

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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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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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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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Drayton Manor file a notice of intention

French firm rescues Drayton Manor from administration

Update...

Drayton Manor has been sold out of administration to French firm,...

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Itsu to propose a CVA

Itsu to propose a CVA

Grab-and-go sushi chain, Itsu has launched a CVA to secure rent cuts at 53 of...

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Zizzi and Ask Italian owner secures rescue deal which includes 75 store closures

Zizzi and Ask Italian owner secures rescue deal which includes 75 store closures

Azzurri Group, the owner of Zizzi and Ask Italian, has been sold out of...

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Cafe Rouge Owner Goes into Administration

Talks with interested parties progress over buying Casual Dining Group

12 July 2020

It has been reported that Epiris, the buyout firm, is having...

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Specialist turnaround funds look to take control of some British restaurant chains

Elliott Advisers expresses interest in buying the whole of Casual Dining Group

6 July 2020

American hedge fund, Elliot Advisors plots a takeover of Casual...

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Restaurants going bust not just because of Coronavirus

Restaurants going bust not just because of Coronavirus

Even before the Covid-19 crisis the casual dining sector was in serious trouble...

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