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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.

See this page on Help for Companies affected by Coronavirus. It will be updated daily.

The UK arm of Brooks Brothers goes into administration as suits fall out of fashion

The UK arm of Brooks Brothers goes into administration as suits fall out of fashion

The UK division of Brooks Brothers, the US business attire retailer, has gone...

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Jessops In Administration Move for 3rd Time

Jessops In Administration Move for 3rd Time

Jessops has filed a notice to appoint adminstrators for the 3rd time since 2013....

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High Court battle for New Look over CVA

High Court battle for New Look over CVA

17 March 2021

It has been reported that New Look has entered a High Court...

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Arcadia collapses with a £510m pension deficit and £800m owed to creditors

Arcadia collapses with a £510m pension deficit and £800m owed to creditors

19 February 2021

Some outcomes of Arcadias collapse have been revealed:

...

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Footwear chain Dune launch a CVA

Footwear chain Dune launch a CVA

10 February 2021

Following restructuring talks with landlords and the...

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Boohoo acquires Debenhams in £55m deal but all stores to close

Boohoo acquires Debenhams in £55m deal but all stores to close

25 January 2021

Boohoo, the fashion retailer, has paid £55m to purchase...

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Arcadia brand Outfit is to have its stores closed down by the end of the month

Arcadia brand Outfit is to have its stores closed down by the end of the month

19 January 2021

Deloitte, administrators of Sir Philip Green's Arcadia empire...

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M&S rescue collapsed fashion brand Jaeger

M&S rescue collapsed fashion brand Jaeger

11 January 2021

Marks and Spencers buy Jaegar out of administration. Purchase...

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Over 175,000 retail jobs lost in 2020 by administrations, rationalisations and CVAs

Over 175,000 retail jobs lost in 2020 by administrations, rationalisations and CVAs

Looking over some statistics for  2020 it has been sobering to discover that...

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Moss Bros eye up a CVA

CVA proposal given the green light by Moss Bros' creditors

16 December 2020

More than 80% of Moss Bros' creditors have approved its CVA...

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Hotter plan to launch a CVA

Hotter Shoes to be put up for sale

13 November 2020

This morning we hear that Hotter Shoes, Britain's biggest...

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Administrators put on standby for shopping centre giant, Intu

KPMG sell off four more Intu shopping centres

19 October 2020

Over a handful of Intu shopping centers have been saved...

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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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