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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.  Once a company has a winding up petition issued against it this tends to crystallise the situation.

Liquidation Sale Sign

What Happens To A Company When It Goes Into Liquidation?

If a company goes into a liquidation process, its assets, i.e. property and...

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£20bn of Covid Loans May Be Written Off

Following the resignation of Lord Agnew of Oulton, the counter-fraud minister,...

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Directors Disqualified For Abuse of Bounce Back Loan Scheme

The directors of Scholars Academy Ltd based in Brighouse, West Yorkshire. Aamer...

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stressed looking director

What Directors of Companies with Debts Need to Know in 2022

Here is what we, in the insolvency world, know now after the last 12 months of...

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The End of Furlough Today

Are you prepared?

So, as the pandemic starts to come to an end (of sorts),...

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HMRC to become Preferential Creditors

HMRC Are Now Preferential Creditors

Since 1 December 2020 a change in the law has meant that the way in which some...

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My accountant told me to do it!

My accountant told me to do it!

Accountants do not know everything about insolvency! Following the increasing...

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Insolvent Waste Firm Director Banned

Director of an Insolvent Warrington-based waste business has been disqualified...

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UK SME companies run by women are less likely to go bust than companies run by men.

UK SME companies run by women are less likely to go bust than companies run by men.

UK SME companies run by women are less likely to go insolvent than companies run...

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Salford Auto Spares Ltd director disqualified for 7 years

Salford Auto Spares Ltd director disqualified for 7 years

The Insolvency Service has announced that the director of Salford Auto Spares...

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New deal signed by FCA and Insolvency Service to clamp down on phoenix companies

New deal signed by FCA and Insolvency Service to clamp down on phoenix companies

The FCA and Insolvency service have agreed to a deal intended to cut down on the...

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Corporate governance of insolvent companies to be strengthened as part of government review

Corporate governance of insolvent companies to be strengthened as part of government review

Having recently initiated the 'Insolvency and Corporate Governance...

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