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.

Caffe Nero considers a CVA

Caffe Nero considers a CVA

Caffe Nero becomes the latest big name to look into a company voluntary...

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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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CVA for Pizza Hut is approved

CVA for Pizza Hut is approved

28 September 2020

Pizza Hut Restaurants secures it future today as it wins a...

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Wahaca to propose a CVA

Further details of Wahaca's CVA proposals shared

22 September 2020

Almost a month after a CVA proposal for Wahaca was first...

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Pizza Express draw up plans for a CVA

Pizza Express CVA Approved - 73 restaurants to close

7 September 2020

Pizza Express has announced that its creditors have approved...

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chilango logo

Chilango sold out of administration

UPDATE: 27th August

Cityam.com report that today, Chilango told investors that...

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CVA approved for The Baird Group

12 August 2020

Creditors of The Baird Group, one of the licencees for Ben...

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Select consider yet another CVA

Select consider yet another CVA

Fashion retailer, Select is said to be considering launching another company...

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Itsu to propose a CVA

Itsu to propose a CVA

Grab-and-go sushi chain, Itsu has launched a CVA to secure rent cuts at 53 of...

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Byron Burgers in Administration Notice

Byron Burgers flips out of administration, saved by a pre-pack

31 July 2020

Sky News reports that Byron Burgers will be sold to Calveton UK as...

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Travelodge looking at a CVA again

Travelodge landlords ready to say 'goodnight' as they set up a rival operator

26.07.2020

Some landlords (approx 80 hotels) of Travelodge are set to ditch the...

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Poundstretcher's CVA Approved

Area managers of Poundstretcher faces axe due to CVA

July 18 update

With the CVA underway, 10 out of 23 area managers were told they...

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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 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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