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.

Specialist turnaround funds look to take control of some British restaurant chains

Elliott Advisers expresses interest in buying the whole of Casual Dining Group

6 July 2020

American hedge fund, Elliot Advisors plots a takeover of Casual...

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Henri Lloyd secures partial rescue deal as company is bought out of administration

Henri Lloyd secures partial rescue deal as company is bought out of administration

Fashion retailer Henri Lloyd has been bought via a pre-pack administration by...

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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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Gaucho considers closing Cau branches as part of restructure

Gaucho considers closing Cau branches as part of restructure

UK-based Argentine restaurant chain Gaucho has mooted plans to close branches of...

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Côte considering closing branches to avoid insolvency

Côte considering closing branches to avoid insolvency

Restaurant group Côte is the latest in a series of national hospitality industry...

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Carpetright to close 92 stores as part of major restructure

Carpetright to close 92 stores as part of major restructure

Carpetright has introduced a set of sweeping measures as part of a major...

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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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