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.

Liquidation Sale Sign

What Does Liquidation Mean?

What does it mean when a company is liquidated and what happens to it...

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Personal liability For Bounce Back Loans

Personal liability For Bounce Back Loans

Bounce Back Loans were aimed at smaller businesses and directors would not be...

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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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Debt Connect director disqualified for 9 years

Following the collapse of the debt management company Debt Connect (UK) Ltd...

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Two directors banned after failing to pay over £68k in taxes to HMRC

Husband and wife, John and Tracy Williams, have been disqualified as directors...

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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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