Talk to us today in confidence0800 970053907833 240747

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.

Hospitality Recovery Strategy Launched By Government

The government has launched a ‘hospitality strategy' to support the recovery of...

Read more

Itsu - after its CVA

Itsu - after its CVA

June 2021

Itsu confirmed a deal for a CVA last summer which involved two of the...

Read more

Caffe Nero Goes Into a CVA

CVA for Caffe Nero Challenged By Some Landlords

22 July 2021

Young, one of the Caffe Nero's landlords has challenged the CVA in...

Read more

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...

Read more

Christmas Killer or Christmas Saviour

Christmas Killer or Christmas Saviour

As details slowly emerge about the Government’s plans at the end of this 2nd...

Read more

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...

Read more

Rescue deal for Camino saves 77 jobs

Camino, the Spanish restaurant group enters a rescue deal which secures 77 jobs

...

Read more

Pizza Express draw up plans for a CVA

Pizza Express CVA Approved - 73 restaurants to close

29 October 2020

Despite creditors agreeing a restructuring deal in September...

Read more

Aspinal of London's CVA approved

Aspinal of London's CVA approved

Update

It has been reported that Aspinal's CVA has been approved which means...

Read more

Pre-pack for Côte saves 94 restaurants and 3148 jobs

Pre-pack for Côte saves 94 restaurants and 3148 jobs

Côte Restaurants has been acquired by new investors under a pre-pack...

Read more

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....

Read more

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...

Read more

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. 

You are currently offline. Some pages or content may fail to load.