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.

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Mothercare Restructure their Watford head office

Mothercare Restructure their Watford head office

It has been announced that 200 roles are to be axed from Mothercare’s Watford...

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Scottish Insolvencies Rise in Q3

It’s been reported that the amount of large Scottish businesses falling into...

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Katie Hopkins Rumoured to be looking at IVA to avoid Bankruptcy

‘’Two tweets cost her house, her job and now her credit rating ‘’

Katie Hopkins...

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Retail Sector Insolvencies on the Rise

We have all heard about the recent issues the UK retail sector is facing – a...

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Carphone Warehouse issues profit warning and announces plan to shut 92 stores

Carphone Warehouse issues profit warning and announces plan to shut 92 stores

Carphone Warehouse, as part of the Carphone Dixon group, has issued a profit...

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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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Insolvency Service places six pension firms in to provisional liquidation

Insolvency Service places six pension firms in to provisional liquidation

Following a substantial investigation, the Insolvency Service has put six...

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Pre pack research papers

Research claims directors are trying to avoid paying creditors through pre pack administrations

Moore Stephens has found that “Pre-pack administrations are continuing to...

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Image from GloucesterLive

Mango Bikes goes into administration

The online bike retailer, Mango Bikes, has fallen into administration. This is,...

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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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