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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.

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Edinburgh Woollen Mill has been bought out of administration

12 January 2021

Edinburgh Woollen Mill has been bought out of administration.

...

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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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Wigan Athletic Goes Into Administration

Wigan Athletic administrators begin formal talks with three groups over potential sale

January 2021

After falling into administration in July last year,...

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Paperchase in administration move

Paperchase in administration move

Almost two years ago now, Paperchase launched a company voluntary arrangement to...

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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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Arcadia brand Evans sold for £23 million to City Chic

Arcadia brand Evans sold for £23 million to City Chic

21 December 2020

It has been announced today that Evans' brand, commerce and...

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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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Bonmarche goes into administration in latest blow to High Street

Bonmarche collapse into administration just months after rescue

December 2020

Just months after being brought out and around a year after first...

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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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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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