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News of Companies That Have Gone Bust in the UK

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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.

Bonmarche Shops may be sold in a pre pack administration

update 2nd of December 2020

Sun European Partners said Monday in a statement...

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bounty logo

Bounty to go into administration according to reports

Bounty which operates one of Britain's most popular websites and apps for new...

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150 jobs go as Abokado call in administrators

150 jobs go as Abokado call in administrators

Healthy restaurant group, Abokado, has called in Benjamin Wiles and Geoffrey...

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Pre-pack deal for GBK

Pre-pack deal for GBK

Ranjit Bopran buys Gourmet Burger Kitchen (GBK) through a pre-pack...

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New rules regarding pre pack administration sales announced in parliament

The government has announced that pre pack sales to connected parties will be...

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Pre-pack administration deal secures Oak Furniturelands' future

Oak Furnitureland announces 27 store closures and 163 job cuts

28 July 2020

Oak Furnitureland becomes the latest business to announce store...

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Pre-pack on the cards for TM Lewin

TM Lewin rumoured to have fallen into administration

30 June 2020

It is rumoured (from an article in The Daily Mail) that TM Lewin...

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Pre-pack administration deal for Cath Kidston to be announced

All 60 Cath Kidston stores close as deal saves the online business only

19th May 2020

In the news today we discover that Cath Kidston creditors,...

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Can 265-year-old Axminster Carpets avoid administration again?

Axminster Carpets' future gets secured

Update 08th March 2020

ACL Carpets rescue Axminster Carpets from...

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Pre pack pool: How does it work and how much does it cost?

From 2nd November 2015, there have been changes to the way pre-pack...

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Pre-Pack Administration for Clintons is confirmed

Pre-Pack Administration for Clintons is confirmed

The UK’s second biggest independent card retailer, Clintons, is being rescued by...

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Two UK Cosmetic Surgery Companies face a pre-pack administration amid Brexit uncertainty

Brexit uncertainty has been blamed by two UK  providers of cosmetic surgery that...

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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 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. 

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