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.

Wrightbus To Go Into Administration

Wrightbus To Go Into Administration

It has been confirmed that Wrightbus, the Ballymena-based Boris Bus maker, known...

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lunar caravan

Lunar Caravans Limited has been put into administration - Possible buyer found

Update:

An FRP Advisory spokesman said: "The Joint Administrators have...

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Nigel Fredericks Enters Administration

Nigel Fredericks Enters Administration

London-based meat and poultry wholesaler, Nigel Fredericks Trading Limited, has...

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British Steel Logo

British Steel Has Gone Into Liquidation

British Steel has gone into liquidation today.

The Government's Official...

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Furniture Godfrey Syrett has gone into administration

Newcastle-based furniture manufacturer, operating from sites in Langley Moor and...

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Crawshaw Butchers Collapses into Administration

High street butcher chain, Crawshaw, calls in administrators after failing to...

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Oyster Yachts goes into liquidation

Oyster Yachts goes into liquidation

The Southampton-based yacht builders, Oyster Yachts, went into liquidation on 6...

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Float Glass Industries falls into administration

Float Glass Industries falls into administration

The Manchester-based glass manufacturer, Float Glass Industries, and its parent...

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TBA Textiles goes into administration

On the 30 May 2017, it was announced that TBA Textiles, a firm in Greater...

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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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