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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.

ASOS emerge as the surprise frontrunner in buying Topshop and Topman

ASOS emerge as the surprise frontrunner in buying Topshop and Topman

23 January 2021

Online fashion retailer, ASOS, has been uncovered as the...

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Claim that retailers are abusing CVAs: BRC responds

Claim that retailers are abusing CVAs: BRC responds

According to the British Retail Consortium (BRC), landlords which have been...

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Caffe Nero Goes Into a CVA

CVA for Caffe Nero Challenged By Some Landlords

04 January 2021

Some landlords, including Lord Sugar, are seeking to challenge...

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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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Monthly Insolvency Statistics: November 2020

Monthly Insolvency Statistics: November 2020

The Insolvency Service publish the eight release in its monthly series to...

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Caffe Nero appoint KPMG to assess options

CVA vote gives CVA approval for Caffe Nero

2.12.2020

Gerry Ford,  the controlling stakeholder of Nero Holdings, pledges a...

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Leon is considering a CVA

Leon serves up a CVA

1 December 2020

It is heard that healthy restaurant chain, Leon, has served its...

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Monthly Insolvency Statistics: October 2020

Monthly Insolvency Statistics: October 2020

The Insolvency Service publish the seventh release in its monthly series to...

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Wahaca to propose a CVA

Nando's owner acquires stake and provides investment for Wahaca

17 November 2020

Dick Enthoven, billionaire owner of Nandos, has agreed to...

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LK Bennett in Administration Move

Reported CVA proposals for LK Bennett

12 November 2020

It is reported that womenswear retailer, LK Bennett are...

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Pizza Express draw up plans for a CVA

Pizza Express CVA Approved - 73 restaurants to close

29 October 2020

Despite creditors agreeing a restructuring deal in September...

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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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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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