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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.

Intu warns it could go bust unless it can raise additional finance

Intu warns it could go bust unless it can raise additional finance

Update; Intu have only managed to collect 30% of their rents this quarter day...

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Laura Ashley files for administration amid the Coronavirus outbreak

Job losses and store closures for Laura Ashley

23.03.2020

It has now been confirmed that Laura Ashley has collapsed into...

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Beales Department Store collapses into administration

Beales Department Store closes all its remaining stores earlier than expected

18 March 2020

Coronavirus has prompted the remaining Beales department stores...

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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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Homebase to exit its CVA early following its success

Homebase to exit its CVA early following its success

Homebase plans to end its company voluntary arrangement (CVA) a year and a half...

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Soak.com, the bathroom retailer has been placed into administration

Soak.com, the bathroom retailer, has been placed into administration

Corporate recovery specialist in Manchester, Leonard Curtis have been appointed...

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Insolvency costs hit a seven year high following a number of high-profile failures

Insolvency costs hit a seven year high following a number of high-profile failures

New statistics from property advisor, Altus Group, show that during 2019, the...

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Retail sales improve in January after a weak end to 2019

Retail sales improve in January after a weak end to 2019

New findings from the Office for National Statistics show that, after falls in...

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laura ashley

Laura Ashley in trouble again just a year after going into administration

Laura Ashley, the fashion and home retailer, saw its shares fall today by 41%...

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French Connection Up For Sale

French Connection no longer up for sale

UPDATE 2nd February 2020:

FCUK has announced that a buyer is no longer being...

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Hawkins Bazaar in administration Again!

Hawkins Bazaar in administration Again!

Toy Retailer, Hawkins Bazaar enters administration with the future of its 20...

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One in Five UK businesses are financially distressed

One in Five UK businesses are financially distressed

New and unsurprising figures show that retailers form a significant part of the...

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